Sunday, December 4, 2022

Buffett gives more than $750M in Berkshire shares to charities

Warren Buffett certainly sees this as the season of giving.

The billionaire investor donated more than $750 million in Berkshire Hathaway stock on Wednesday to the four foundations run by his family.

Wednesday’s donations mark the first time the 92-year-old has made a second major gift within the same year.

Buffett gives annual gifts to five charities each summer, but this extra round of giving didn’t include the Bill & Melinda Gates Foundation.

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Billionaire investor and philanthropist Warren Buffett (Daniel Zuchnik/WireImage/Getty Images)

Buffett started giving annual donations to the same five charities in 2006 when he unveiled a plan to give away his fortune over time, with the Gates Foundation receiving the biggest donations.

A filing with the Securities and Exchange Commission showed Buffett gave 1.5 million Class B shares to the Susan Thompson Buffett Foundation, named for his first wife.

He also gave 300,000 Class B shares apiece to the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

In June, he gave 11 million Class B shares to the Gates Foundation, 1.1 million B shares to the Susan Thompson Buffett Foundation and 770,218 shares apiece to his children’s three foundations.

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Buffett kids

Warren Buffett (C) poses for a picture with his children Peter Buffett and Susie Buffett. ((Photo by Bennett Raglin/WireImage)/Getty Images)

It wasn’t immediately clear what prompted the new donations this week.

The Susan Thompson Buffett Foundation has been a major supporter of abortion rights, making large gifts to Planned Parenthood and other groups.

Buffett hasn’t announced any changes in his giving plans since the US Supreme Court overturned Roe v. Wade earlier this year.

Susie Buffett, 69, uses her Sherwood Foundation to strengthen early childhood education and support a number of projects around Buffett’s hometown of Omaha where she also lives.

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Howard Buffett, 67, is helping farmers in impoverished nations produce more and working to end world hunger with his namesake foundation.

howard buffett

Howard G. Buffett, chairman and chief executive officer of the Howard G. Buffett Foundation and son of billionaire Warren Buffett. (Victor J. Blue/Bloomberg via Getty Images/Getty Images)

Peter Buffett, 64, has dedicated his NoVo Foundation to empowering women and girls worldwide through education, collaboration and economic development to end violence against women.

Even after these latest gifts, Buffett still controls more than 31% of Berkshire’s voting power.

The Associated Press contributed to this report.

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