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Berkshire Hathaway says Warren Buffett donates shares to family charities

(Reuters) - Berkshire Hathaway (NYSE:BRKa) Inc said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman...
Berkshire Hathaway says Warren Buffett donates shares to family charities © Reuters. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway, attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 7, 2022. REUTERS/Brendan McDermid/File Photo
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(Reuters) - Berkshire Hathaway (NYSE:BRKa) Inc said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman made a new donation to the Bill & Melinda Gates Foundation.

According to a regulatory filing, Buffett on Wednesday donated another 2.4 million of the conglomerate's Class B shares, worth about $759 million based on their closing price.

Buffett donated 1.5 million shares to the Susan Thompson Buffett Foundation. Named for his late first wife, the foundation funds college scholarships to students from Nebraska, according to its website.

Another 900,000 shares were split evenly among charities run by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation.

Buffett has since 2006 donated more than half of his Berkshire shares, worth more than $46 billion at the time of the donations.

More than three-quarters have gone to the Gates Foundation, still one of the world's largest private charitable foundations despite last year's divorce of its namesake co-founders.

Berkshire and the Gates Foundation did not immediately respond to requests for comment.

Following the latest donations, Buffett still owns 15.5% of Berkshire's stock and controls 31.4% of its voting power.

Both percentages rise as the Omaha, Nebraska-based company repurchases its own shares from other investors.

Buffett is still worth $110.2 billion, ranking fifth worldwide, Forbes magazine said.

Berkshire owns dozens of businesses such as the BNSF railroad and Geico auto insurance, and stocks such as Apple Inc (NASDAQ:AAPL), Bank of America Corp (NYSE:BAC) and Occidental Petroleum Corp (NYSE:OXY). Buffett has run the company since 1965.

According the Buffett family foundation websites, the Howard G. Buffett Foundation works to alleviate hunger, mitigate conflicts and improve public safety around the world. The Sherwood Foundation supports nonprofit organizations in Nebraska; the Novo Foundation aims to support communities,

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01-05-2024 10:45:17 (UTC+7)

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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