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Warren Buffett Donates Over $4 Billion to Charity

The donation has been made to Bill & Melinda Gates Trust Foundation and four family charities, as part of a pledge to donate nearly all of his net worth.

Warren Buffett

Warren Buffett has donated nearly $4 billion to the Bill & Melinda Gates Trust Foundation and four family charities, as part of a pledge to donate nearly all of his net worth.

Berkshire Hathaway Inc, which Buffett has run since 1965, said the donation comprises about 14.4 million of its Class B shares, whose closing price on Tuesday was $277.64.

Eleven million shares will go to the Bill & Melinda Gates Foundation and 11.1 million shares will go to the Susan Thompson Buffett Foundation, named after Buffett’s late first wife.

Another 7,70,000 shares will also go to each of three charities run by Buffett’s children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the Novo Foundation.

Since 2006, Buffett, 91, has donated more than half of his Berkshire stock, contributing about $ 45.5 billion.

The donation would reduce Buffett’s fortune to $96.3 billion, enough to drop him one slot on the Bloomberg Billionaires Index of the world’s richest people. He was ranked fifth before Tuesday’s transfer, just behind his friend and philanthropic partner, Bill Gates.

Buffett’s contribution to the Gates Foundation comes almost a year after he resigned from the trustee role at that organization.

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