Warren Buffett to Donate $3.6 Billion of Berkshire Stock to Five Foundations
01 Julho 2019 - 8:21AM
Dow Jones News
By Kimberly Chin
Warren Buffett, chairman of Berkshire Hathaway Inc., has pledged
to donate shares worth about $3.6 billion to five foundations, as
part of his plan to give away most of his wealth to charities and
other philanthropic efforts.
The company said Monday that Mr. Buffett, 88 years old, plans to
convert 11,250 shares of his Berkshire Hathaway Class A stock into
roughly 16.9 million shares of Class B stock. Around 16.8 million
of the Class B shares will be donated to the Bill & Melinda
Gates Foundation, Susan Thompson Buffett Foundation, Sherwood
Foundation, Howard G. Buffett Foundation and the NoVo
Foundation.
Mr. Buffett has pledged to eventually donate about 85% of his
stake in the Omaha conglomerate to these five foundations, with
much of it primarily going toward the Gates Foundation. This
follows a series of contributions he made last year and the year
prior to the group, with a value of about $6.6 billion.
In total, including the current gift, he has donated about 45%
of his 2006 holdings to date to the five foundations. The gifts are
collectively valued at around $34 billion, according to the
company.
Mr. Buffett plans to give away all of his Berkshire Hathaway
shares to philanthropy through annual gifts. The plan would be
completed 10 years after his estate has settled, the company
said.
Mr. Buffett is Berkshire's largest shareholder. As of June 30,
he held 37.4% of the Class A shares in the company, according to
FactSet.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
July 01, 2019 07:06 ET (11:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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