Buffett gives more than $750 million in Berkshire stock to charities

Warren Buffett certainly sees it as a season of giving.

The billionaire investor on Wednesday donated more than $750 million in Berkshire Hathaway stock to four foundations run by his family.

Wednesday’s donations are the first time the 92-year-old has made a second major donation in the same year.

Buffett makes annual donations to five charities each summer, but this next round of giving did not include the Bill and Melinda Gates Foundation.

WARREN BUFFETT PORTRAIT: HIGH ART RAISES $75,000 FOR CHARITY

Warren Buffett

Billionaire investor and philanthropist Warren Buffett (Daniel Zuchnik/WireImage/Getty Images)

Buffett began making annual donations to the same five charities in 2006 when he unveiled a plan to distribute his fortune over time, with the largest donations going to the Gates Foundation.

A filing with the Securities and Exchange Commission showed that Buffett gave 1.5 million Class B shares to the Susan Thompson Buffett Foundation, named after his first wife.

He also gave 300,000 Class B shares each to three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

In June, he gave 11 million Class B shares to the Gates Foundation, 1.1 million Class B shares to the Susan Thompson Buffett Foundation and 770,218 shares to three of his children’s foundations.

WARREN BUFFETT’S FINAL CHARITY LUNCHEON SET EBAY RECORD

Buffett's children

Warren Buffett (C) poses for a photo with his children Peter Buffett and Susie Buffett. ( (Photo by Bennett Raglin/WireImage) / Getty Images)

It was not immediately clear what led to the new donations this week.

The Susan Thompson Buffett Foundation is a major supporter of abortion rights and gives large donations to Planned Parenthood and other groups.

Buffett has not announced any changes to his giving plans since the U.S. Supreme Court overturned Roe v. Wade earlier this year.

Susie Buffett, 69, uses her Sherwood Foundation to strengthen early childhood education and support a number of projects around Buffett’s hometown of Omaha, where she also lives.

BUFFETT GIVES $4.1 BILLION TO CHARITY, RESIGNS FROM GATES FOUNDATION BOARD

Howard Buffett, 67, helps farmers in poor countries produce more and works to end world hunger with his eponymous foundation.

Howard Buffett

Howard G. Buffett, Chairman and CEO of the Howard G. Buffett Foundation and son of billionaire Warren Buffett. (Victor J. Blue/Bloomberg via Getty Images/Getty Images)

Peter Buffett, 64, dedicated his NoVo Foundation to supporting women and girls around the world through education, collaboration and economic development to end violence against women.

Even after these latest donations, Buffett still controls more than 31% of Berkshire’s voting rights.

The Associated Press contributed to this report.

Leave a Comment