Warren Buffett has made his largest annual donation yet, giving away $6 billion worth of Berkshire Hathaway stock to philanthropic causes, including the Bill & Melinda Gates Foundation and four family-run charities.
The donation, made Friday, involved approximately 12.36 million Berkshire Class B shares and pushes Buffett’s total charitable giving to over $60 billion since he began his philanthropy in 2006.
Of the donated shares, 9.43 million went to the Gates Foundation, while nearly 943,000 shares were directed to the Susan Thompson Buffett Foundation, named after Buffett’s late wife. Each of his three children’s foundations—Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation—received 660,366 shares.
Despite the massive donation, Buffett retains 13.8% ownership of Berkshire Hathaway. Prior to the donation, his net worth stood at $152 billion, ranking him the fifth-richest person globally. He is expected to drop to sixth following the donation, which exceeds his $5.3 billion gift in June 2024.
Now 94, Buffett reiterated that he does not plan to sell his Berkshire shares. He also updated his will last year, ensuring that 99.5% of his estate will go to a charitable trust run by his three children after his death. They will have a decade to distribute the funds, but must do so by unanimous agreement.
Buffett has led Berkshire Hathaway since 1965. The conglomerate, valued at over $1 trillion, owns major companies like Geico, BNSF Railway, and holds large investments in firms like Apple and American Express.
Each of the Buffett children oversees a charity focused on key social issues ranging from reproductive health and education to global food security and support for marginalized communities.
Buffett has stated that his donations to the Gates Foundation will conclude upon his passing.