Warren Buffett awards $750 million to family foundations
Berkshire Hathaway chair and CEO and Giving Pledge co-founder Warren Buffett has donated shares of the conglomerate valued at more than $750 million to the four foundations run by his family, CNBC reports.
The donations mark the first time Buffett has made a second major gift within the same year; in June, he awarded $4 billion in gifts. Unlike with the investor’s previous annual gifts, however, the Bill & Melinda Gates Foundation, which typically has received the largest donations, was not a recipient.
A filing with the Securities and Exchange Commission showed Buffett gave 1.5 million Class B shares of Berkshire Hathaway to the Susan Thompson Buffett Foundation, named for his first wife, which has has been a major supporter of abortion rights groups, including Planned Parenthood. In addition, Buffett gave 300,000 Class B shares apiece to the Sherwood, Howard G. Buffett, and NoVo foundations, which are run by his children.
It wasn’t immediately clear what prompted the latest gifts. Neither Buffett, nor any of the foundations immediately responded to questions.
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