Buffett donates 6 billion dollars in Berkshire’s shares, and gives lifetime $ 60 billion

Berkshire Hathaway, CEO Warren Buffett It was announced on Friday that he donates another $ 6 billion from the company’s shares for the Gates Foundation and four family charitable societies.

He represents his largest annual donation since he began abandoning his wealth in 2006 when he pledged to give up the largest part of his wealth to charity, in the first place through five foundations.

Buffet, 94 years old, donates 9.43 million shares for the Gates Foundation; 943,384 shares to the Suzan Tumson Pavite Foundation; And 660366 shares for each of the three charitable societies led by his children, Howard, Sousse and Peter: Howard J. Pavite, Sherwood Foundation and Novo Foundation. The donations will be delivered on Monday.

Buffett donates more than 5 billion dollars in Berkshire’s stock to 5 foundations: the age of $ 60 billion

Oracle of omaha has turned 8,239 shares to 12,358,500 shares to donate 12358321 shares Berkshire Hathaway “B” shares to the five institutions.

Shares The original stocks Issued by the high -value company and the rise in the voting power, while the B shares were created in 1996 to allow smaller investors to own Berkshire.

Even after abandoning tens of billions of dollars, Buffett keeps very control over Berkshire because he maintains his shares, which carries almost all voting force. B shares are much easier in transportation, value and liquidation of charitable societies than shares.

Pavite still owns 13.8 % of Berkshire shares, based on the existing stocks. According to the Forbes magazine, which paid his pure wealth of $ 152 billion before Friday’s donations to the fifth most in the world, according to Forbes.

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When donations began for the first time in 2006, he owned 474,998 shares of Berkshire worth about $ 43 billion and those shares represented more than 98 % of his net wealth.

During the next 19 yearsand He did not buy or sell any A or B shares, and he does not intend to do so.

“The five institutions have received Berkshire B shares, which had value when receiving about $ 60 billion, that is, more than the entire net wealth in 2006,” Buffett said. “I have no debts, and its remaining value is about 145 billion dollars, or more than 99 % of the net wealthy.”

“Not anything unusual in Berkshire; a very long runway, simple and general voice decisions, produced the current American effects and current wealth. Charitable use“

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Buffett plans to step down by the end of this year as CEO of the Hathaway Berkshire and billionaire investor Greg AbelWho is the vice president, will be a substitute for him.

“I think the time has reached where Greg should become the company’s CEO at the end of the year,” Buffett said at the annual shareholders meeting in Berkshire in Omaha, Nebraska. ABEL, 62, has been vice president since 2018.

Reuters contributed to this report.