Warren Buffett Donates $2.1 Billion to Gates Foundation This Year

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Warren Buffett Donates $2.1 Billion to Gates Foundation This Year
By USA White House [Public domain], via Wikimedia Commons

Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.A) disclosed his stock donations to different charitable organizations in a regulatory filing with the Securities and Exchange Commission (SEC).

The filing indicated that Buffett donated 16,585,510 shares of Class B common stock of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) to Bill and Melinda Gates Foundation this year, down from 17.5 million shares last year.

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Buffett’s annual gift to Bill and Melinda Gates Foundation is lesser in terms of the number of shares, but the total value is $100 million higher at $2.1 billion. The stock price of the Class B common stock of Berkshire Hathaway Inc. (NYSE:BRK.A) (BRK.B) increased 12.1% over the past 12 months. Last year, Buffett’s stock donation to the foundation was worth $2 billion.

Buffett made irrevocable commitment to Gates’ foundation

In 2006, Buffett wrote a letter to Microsoft Corporation (NASDAQ:MSFT) founder, Bill Gates and his wife Melinda expressing his admiration to the accomplishment of their foundation and objective to significantly expand its future capabilities. He also made an irrevocable commitment to make annual gifts to the Bill and Melinda Gates Foundation throughout his lifetime. Buffett

The value of Buffett’s donation to the Bill and Melinda Gates foundation increased for the third consecutive year.The billionaire investor already donated approximately 185 million shares or $15.1 billion to the foundation since he started his annual gift.

Based on the closing price of the Class B common stock of Berkshire Hathaway Inc (NYSE:BRK.A) (NYSE.B) at $128.98 per share on Monday, the total value of Buffett’s stock donation to the Bill and Melinda Gates Foundation would be around $23.8 billion.

Buffett’s other charitable contributions

Based on the regulatory filing, Buffett also donated 1,656,551 shares of Class B common stock of Berkshire Hathaway Inc. (NYSE:BRK.B) (NYSE:BRK.B) to Susan Thompson Buffett Foundation. He also donated 1,160,981 shares of class B common stock to each of the Sherwood Foundation, Howard G. Buffett Foundation and the NoVo Foundation.

The billionaire investor also made an irrevocable commitment to these foundations, which are managed by his three children.

Buffett also made charitable contributions to several charitable organizations and 13 elementary schools.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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