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HomeUSA NewsWarren Buffett Announces Donation of Additional $4.64 Billion

Warren Buffett Announces Donation of Additional $4.64 Billion

Buffett’s Ongoing Generosity

The 92-year-old legendary investor Warren Buffett, also known as the “stock god,” has declared his intention to donate a further 4.64 billion yuan ($725 million) worth of Berkshire Hathaway stock to charitable organizations. This latest donation adds to his remarkable legacy of philanthropy, as he has already contributed over 51 billion yuan ($8 billion) since 2006.

Charitable Contributions

Buffett’s latest round of donations includes a significant portion allocated to the renowned “Bill & Melinda Gates Foundation,” co-founded by Microsoft’s Bill Gates and his ex-wife Melinda. The stock donation to the foundation amounts to 10.45 million yuan ($1.63 million), bringing the total value of Berkshire stock donated to the foundation to over $39 billion.

Additionally, Buffett has pledged 1.05 million yuan ($164,000) of stock to the “Susan Thompson Buffett Foundation,” named after his late first wife. Furthermore, he has evenly distributed 2.2 million yuan ($344,000) of stock to charitable organizations led by his children: the Howard Buffett Foundation, Buffett Foundation, Sherwood Foundation, and NoVo Foundation.

Progressive Donation Strategy

Over the years, Warren Buffett has been gradually giving away the majority of his Berkshire fortune, a company he has led since 1965. He initiated the “Giving Pledge” along with Bill Gates, committing to donating at least 50% of their wealth to charitable causes. Other notable figures who have joined this initiative include Michael Bloomberg, Larry Ellison, Carl Icahn, Elon Musk, and Mark Zuckerberg.

Impressive Stock Holdings

Despite his substantial philanthropic efforts, Warren Buffett still retains a considerable stake in Berkshire Hathaway. Even after the recent wave of donations, he holds over 112.5 billion yuan ($17.6 billion) worth of Berkshire shares, accounting for 15.1% of the company.

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Positive Performance of Berkshire Shares

While the stock Buffett has donated has experienced a 5% annual decline, Berkshire Hathaway shares have reached record values this year due to their upward trajectory. Buffett attributes his vast fortune to a combination of consistent and sound decision-making, favorable market conditions, and the power of compounding.

Buffett’s Lasting Philanthropic Legacy

Warren Buffett’s ongoing commitment to charitable giving has left an indelible mark on society. His remarkable generosity continues to inspire and make a significant impact on various causes around the world.

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