Buf­fett fol­low­ing through on for­tune prom­ises

In­vestor do­nates shares worth $ 3.17B to five foun­da­tions, lift­ing 10- year to­tal to $ 27.54B

USA TODAY International Edition - - NEWS - David Car­rig

When War­ren Buf­fett an­nounced in 2006 that he would grad­u­ally give away the ma­jor­ity of his for­tune to char­ity, he wasn’t kid­ding.

The bil­lion­aire in­vestor just do­nated an­other 18.6 mil­lion Class B shares of Berk­shire Hath­away worth $ 3.17 bil­lion to five dif­fer­ent foun­da­tions.

That puts his to­tal char­i­ta­ble con­tri­bu­tion to the or­ga­ni­za­tions at $ 27.54 bil­lion in just over 10 years.

The five foun­da­tions re­ceiv­ing do­na­tions are the Bill & Melinda Gates Foun­da­tion, Su­san Thomp­son Buf­fett Foun­da­tion, Sher­wood Foun­da­tion, Howard G. Buf­fett Foun­da­tion and NoVo Foun­da­tion.

The CEO of Berk­shire Hath­away is worth more than $ 70 bil­lion and is ranked as the world’s sec­ond- rich­est per­son, just be­hind Bill Gates, ac­cord­ing to Forbes mag­a­zine.

Buf­fett has pledged to make an­nual gifts of stock to the foun­da­tions through­out his life­time and be­yond.

“Mr. Buf­fett in­tends to have all of his Berk­shire shares given to phi­lan­thropy through an­nual gifts that will be com­pleted 10 years af­ter his es­tate is set­tled,” ac­cord­ing to a state­ment re­leased by Berk­shire Hath­away.

In ad­di­tion to his own con­tri­bu­tions, Buf­fett joined with Bill and Melinda Gates in 2010 to launch the Giv­ing Pledge ini­tia­tive.

This ini­tia­tive seeks to ad­dress so­ci­ety’s most press­ing prob­lems by ask­ing the “world’s wealth­i­est in­di­vid­u­als and fam­i­lies to ded­i­cate the ma­jor­ity of their wealth to giv­ing back.”

The ini­tia­tive started with 40 pledgers in the U. S. and has now grown to 170 pledgers from 21 coun­tries.

NATI HARNIK, AP

War­ren Buf­fett is worth more than $ 70 bil­lion and is ranked as the world’s sec­ond- rich­est per­son by

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