Tags: buffett | donates | charity

Buffett Donates $2.8B to Charity

By    |   Tuesday, 07 Jul 2015 09:34 AM

Warren Buffett has announced in three simple paragraphs on his Berkshire Hathaway website that he is donating $2.8 billion to charity this year.

"Warren E. Buffett has today given 20,640,653 Berkshire Hathaway Class 'B' shares to five foundations," read a statement on his website. "This is the 10th annual gift of Mr. Buffett to the Bill and Melinda Gates, Susan Thompson Buffett, Sherwood, Howard G. Buffett and NoVo Foundations."

Forbes reported Berkshire Hathaway's Class B stock closing at $137.39 per share on Thursday, making the donations worth $2.84 billion. Buffett did the same giveaway last summer, donating $2.8 billion in 2014 and another $2.6 billion in 2013.

Buffett has pledged to donate 99 percent of his wealth and has given way $25.5 billion over his lifetime so far, according to Forbes.

Bill Gates joined Buffett in creating The Giving Pledge in 2010 in which they challenged other wealthy entrepreneurs to donate their fortunes, reported CNN Money. More than 130 billionaires have agreed to participate in the pledge.

Saudi Prince Alwaleed bin Talal announced last week that he planned on giving away his $32 billion fortune in the coming years to build a "better world of tolerance, acceptance, equality and opportunity for all," according to Fortune magazine.

Bill and Melinda Gates gave $1.5 billion in Microsoft stock to the Bill and Melinda Gates Foundation in 2014 while Ralph Wilson, the late owner of the Buffalo Bills, gave $1 billion to the Ralph C. Wilson Foundation in Detroit, noted CNBC.

The Chronicle of Philanthropy listed other top donors in 2014 as Ted Stanley, who gave away $652.4 million; Jan Koun, who donated $556 million; Sean Parker, who donated $550 million; Nicholas and Jill Woodman, who donated $500 million; Michael Bloomberg, who gave away $462 million; Rachel Lambert (Bunny) Mellon, who donated $411.3 million; Sergey Brin, who gave away $382.8 million; and Paul Allen, who donated $298 million.

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Warren Buffett has announced in three simple paragraphs on his Berkshire Hathaway website that he is donating $2.8 billion to charity this year.
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2015-34-07
Tuesday, 07 Jul 2015 09:34 AM
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