Omaha, Nebraska — Warren Buffett has made waves yet again with a monumental donation of $6 billion in Berkshire Hathaway stock, marking his largest single gift since he began his philanthropic journey nearly 20 years ago. The latest contribution comprises about 12.36 million Class B shares, an act that elevates his total charitable giving to over $60 billion.
In this latest round of donations, Buffett allocated 9.43 million shares to the Bill and Melinda Gates Foundation. Additionally, he provided nearly a million shares to the Susan Thompson Buffett Foundation, while each of his three children’s foundations received just over 660,000 shares. These organizations include the Howard G. Buffett Foundation, the Sherwood Foundation, and the NoVo Foundation, reflecting Buffett’s commitment to various causes ranging from education to combating global hunger.
Despite his generosity, Buffett retains a significant stake in Berkshire Hathaway, owning 13.8% of the company’s stock. As of the day of the donation, his net worth stood at approximately $152 billion, positioning him as the fifth-richest individual globally, according to Forbes. After this latest gift, he is anticipated to drop to sixth place among the world’s wealthiest.
Buffett’s philanthropic journey began in 2006, and he has since demonstrated a steadfast commitment to giving. He made headlines last June with a $5.3 billion donation, followed by an additional $1.14 billion to family charities in November. In a statement, he emphasized that he has no intention of selling any of his Berkshire shares, underscoring his long-term vision for both the company and his philanthropic efforts.
At 94 years old, Buffett is not only a seasoned investor but also a dedicated philanthropist, having updated his will last year to specify that 99.5% of his remaining fortune will be managed by a charitable trust overseen by his children. These decisions are particularly poignant as Susie, Howard, and Peter Buffett are each tasked with managing the distribution of these funds over the next decade.
Under Buffett’s leadership, Berkshire Hathaway has grown into a $1.05 trillion conglomerate with nearly 200 subsidiaries, including well-known brands such as Geico and the BNSF railway, along with significant investments in major firms like Apple and American Express.
The foundations he supports reflect a wide array of social causes. The Susan Thompson Buffett Foundation, named after his first wife, prioritizes reproductive health initiatives. The Sherwood Foundation aims to bolster Nebraska nonprofits and promote early childhood education. Meanwhile, the Howard G. Buffett Foundation focuses on alleviating global hunger and addressing issues like human trafficking. The NoVo Foundation emphasizes support for marginalized communities, particularly girls and women.
As Buffett prepares for the future, he has indicated that his donations to the Gates Foundation will conclude upon his passing, marking a significant point in the timeline of his charitable legacy. In a world where wealth can often lead to isolation, Buffett’s ongoing commitment to giving and social responsibility continues to resonate, setting a precedent for philanthropic endeavors well into the future.