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Warren Buffett announces $6 billion in
donations to five foundations
[June 30, 2025]
NEW YORK (AP) — Famed investor Warren Buffett is donating $6
billion worth of his company's stock to five foundations, bringing the
total he has given to them since 2006 to roughly $60 billion, based on
their value when received.
Buffett said late Friday that the shares of Berkshire Hathaway will be
delivered on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a
range of other businesses, and Buffett is donating nearly 12.4 million
of the Class B shares of its stock. Those shares have a lower and
easier-to-digest price tag than the company's original Class A shares,
and each of the B shares was worth $485.68 at their most recent close on
Friday. |
Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he
plays bridge following the annual Berkshire Hathaway shareholders
meeting in Omaha, Neb., May 5, 2019. (AP Photo/Nati Harnik, File) |
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The
largest tranche is going to the Bill & Melinda Gates Foundation
Trust, which will receive 9.4 million shares. The Susan Thompson
Buffett Foundation will receive 943,384 shares, and the Sherwood
Foundation, Howard G. Buffett Foundation and NoVo Foundation
will each receive 660,366 shares.
Buffett made waves a year ago when he said he plans to cut off
donations to the Bill & Melinda Gates Foundation after his death
and let his three children decide how to distribute the rest of
his fortune.
Berkshire Hathaway's Class B stock has climbed 19.1% over the
last 12 months, topping the broad U.S. stock market's return of
14.1%, including dividends. Buffett is famous on Wall Street for
buying companies at good prices and being more conservative when
prices look too high. The bargain-hunting approach has helped
him amass a fortune worth about $145 billion, with basically all
of it in Berkshire Hathaway's stock.
“Nothing extraordinary has occurred at Berkshire; a very long
runway, simple and generally sound decisions, the American
tailwind and compounding effects produced my current wealth,”
Buffett said in a statement. “My will provides that about 99˝%
of my estate is destined for philanthropic usage.”
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