Buffett gives more than $750M in Berkshire shares to charities

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Warren Buffett certainly sees this as the season of giving.

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

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

Buffett gives annual gifts to five charities each summer, but this additional round of donations did not include the Bill & Melinda Gates Foundation.

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

Buffett began giving annual donations to the same five charities in 2006 when he unveiled a plan to give away his fortune over time, with the Gates Foundation receiving the largest donations.

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

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

In June, he donated 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 each to his children’s three foundations.

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Buffet kids

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 prompted the new donations this week.

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

Buffett has not announced any changes to his donation plans since the US 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.

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

Howard Buffett

Howard G. Buffett, chairman and chief executive officer of the Howard G. Buffett Foundation and son of billionaire Warren Buffett. (Victor J. Blue/Bloomberg via Getty Images/Getty Images)

Peter Buffett, 64, has dedicated his NoVo Foundation to empowering 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 power.

The Associated Press contributed to this report.

The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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