Warren Buffett Donates $1.78 Billion to CharityPosted: July 9, 2011
In 2006, Warren Buffett made a pledge to gradually give the bulk of his wealth from Berkshire Hathaway, Inc. away to charity. By donating $1.78 billion to several charities, he is keeping in line with his pledge to donate 99% of his wealth.
According to a filing with the Securities and Exchange Commission, Buffett donated on Thursday 19.34 million Class B shares of his insurance and investment company Berkshire Hathaway Inc to the Gates Foundation.
The B shares closed up $1.25 at $77.77, while Berkshire Class A shares closed up $1,840 at $116,640.
The Bill and Melinda Gates Foundation focuses on bringing innovations to health, development and learning to the global community.
Warren Buffett (born August 30, 1930) is an American investor, industrialist and philanthropist. He is widely regarded as one of the most successful investors in the world.
Buffett is the world’s third-richest person, with a $50 billion net worth, according to Forbes magazine.