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Most of the shares -- 475,000 -- went to the Bill & Melinda Gates Foundation; the rest went to Buffett's own foundation and the foundations run by each of his three children.
After making these gifts, Buffett holds 350,000 Class A shares and 2,570,065 Class B shares of Berkshire stock. Buffett has said he plans to give each foundation 5 percent of his remaining pledge each year in July, so he will give away 5 percent fewer shares each time. Last year, he gave 602,500 shares away.
Buffett has said he plans to give away 12,050,000 Class B shares of Berkshire Hathaway stock to the five foundations. The 76-year-old investor has also said that all of his Berkshire stock will eventually go to charity.
Buffett has earmarked 10 million B shares for the Bill & Melinda Gates Foundation, 1 million B shares for the Susan Thompson Buffett Foundation named in honor of his wife and 350,000 shares for the three foundations run by each of his children.
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 Buffett said in Monday's statement that he does not participate in the investment decisions of any of the five foundations.
One Class A share, which rose $500 to $112,000 Monday, can be converted into 30 Class B shares, which rose $9.10 to $3,714.
Buffett's Omaha-based company owns a diverse mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility firms. It has major investments in such companies as H&R Block Inc., Anheuser-Busch Cos. and Coca-Cola Co.
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On the Net:
Berkshire Hathaway Inc.: http://www.berkshirehathaway.com
[Associated Press;
by Josh Funk] |
