Warren Buffett awards $4 billion to five foundations
As part of his annual plan announced more than a decade ago, Berkshire Hathaway chair and CEO and Giving Pledge co-founder Warren Buffett has donated shares of the conglomerate valued at approximately $4 billion to five foundations including the Bill & Melinda Gates Foundation, Fortune reports.
According to the company, Buffett converted 9,608 A shares into 14,412,000 B shares in order to donate 14,414,136 shares of Berkshire Hathaway “B” stock to five foundations: 11,003,166 to the Gates Foundation Trust, 1,100,316 shares to the Susan Thompson Buffett Foundation, and 770,218 shares each to the Sherwood, Howard G. Buffett, and NoVo foundations. He now owns 229,016 A shares and 276 B shares.
According to Fortune, Buffett’s fortune has dropped below $100 billion. He ranks as the fifth richest person on the Bloomberg Billionaires Index.
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