The world’s oldest and most magnanimous billionaire Warren Buffett has given away $6 billion in Berkshire Hathaway shares — his biggest donation so far.
The 94-year-old philanthropist’s money has gone to the Gates Foundation and four charities run by his family.
The most respected American investor has been donating parts of his fortune since 2006 and has said that he has no plans to stop.
The donation of around 12.36 million Berkshire Class B shares has pushed Buffett’s total charitable giving to well over $60 billion.
He gave 9.43 million shares to the Gates Foundation; 943,384 shares to the Susan Thompson Buffett Foundation; and 660,366 shares to each of three charities led respectively by his children Howard, Susie, and Peter: the Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation.
Warren Buffett still owns 13.8% of Berkshire’s stock, based on reported shares outstanding.
His $152 billion net worth prior to Friday’s donations made him the world’s fifth-richest person, according to Forbes magazine.
After the donations, Buffett would rank sixth. This surpasses the $5.3 billion he donated last June. He also gave $1.14 billion to the family charities last November.
In a statement, Buffett said he does not intend to sell any Berkshire shares.
Now 94, Buffett began giving away his fortune in 2006.
He updated his will last year, allocating 99.5% of his remaining wealth after death to a charitable trust managed by his children.
They will have around a decade to distribute the funds, and must agree unanimously on where the money goes. Susie Buffett is 71, Howard Buffett is 70, and Peter Buffett is 67.
Warren Buffett has led Omaha, Nebraska-based Berkshire since 1965.
The $1.05 trillion conglomerate owns nearly 200 businesses, including Geico car insurance and the BNSF railroad, along with shares in companies such as Apple and American Express.
Susie Buffett heads the Susan Thompson Buffett Foundation, which funds reproductive health and is named after her mother, Warren Buffett’s first wife.
The Sherwood Foundation supports Nebraska non-profits and early childhood education. The Howard G. Buffett Foundation focuses on global hunger, tackling human trafficking, and reducing conflicts. The NoVo Foundation works on initiatives supporting marginalised girls and women, as well as indigenous communities.
Buffett said last June that donations to the Gates Foundation would end upon his death.
