Outlook Business Desk
On Friday, June 27, Warren Buffett, Chairman of Berkshire Hathaway, confirmed that 99.5% of his fortune will go to philanthropic causes as part of his will. At 94, he continues to shape his legacy through charitable giving.
Buffett has pledged $6 billion in Berkshire Hathaway stock to five charitable foundations — including the Bill & Melinda Gates Foundation Trust — marking his largest annual donation to date.
With this latest $6 billion pledge, Warren Buffett’s total philanthropic contributions since 2006 now reach an estimated $60 billion, depending on Berkshire Hathaway stock valuations at the time of each donation.
As per Warren Buffett’s will, around 12.4 million Class B shares of Berkshire Hathaway will go to five foundations. The Bill & Melinda Gates Foundation Trust will receive 9.4 million shares, while the Susan Thompson Buffett Foundation will get 943,384 shares.
The Susan Thompson Buffett Foundation will receive 943,384 Class B shares. The Sherwood Foundation (run by daughter Susan), Howard G. Buffett Foundation (run by son Howard) and NoVo Foundation (co-chaired by son Peter) will each receive 660,366 shares.
Warren Buffett has led Berkshire Hathaway since the 1960s. Its businesses include Geico, Dairy Queen and BNSF Railway, along with major holdings in Apple, Coca-Cola and American Express.
After this round of donations, Buffett would rank 6th in global wealth, having given away more than $5.3 billion last June and another $1.14 billion to family charities in November.
Buffett has long believed that extreme wealth should benefit society. As a co-founder of The Giving Pledge, he continues to set a global benchmark of how the ultra-rich can practice responsible and impactful philanthropy.