Buffett Gives $1.5B in Stock to Gates Foundation

Thursday, 07 Jul 2011 07:48 PM

 

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SEATTLE (AP) — Investor Warren Buffett has made his annual gift of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation, turning over about $1.5 billion worth of stock.

According to a Thursday filing with the Securities and Exchange Commission, Buffett donated 19.34 million Class B shares of the company's stock.

The closing price of Class B shares on Thursday was $77.77.

The gift is the fifth installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation run by the Microsoft Corp. co-founder and his wife. The foundation is the world's largest with an endowment of $37.1 billion as of March 31.

Omaha, Neb.-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses.

___

On the Net:

Berkshire Hathaway Inc.: www.berkshirehathaway.com

Gates Foundation: www.gatesfoundation.org

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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