Berkshire Hathaway Chairman Donates $60 Billion in Largest Annual Gift in Two Decades

On Friday, the Chairman of Berkshire Hathaway made a substantial philanthropic contribution, donating 12,358,321 shares of Class B stock to five foundations. The total value of the donation, based on the closing price of Berkshire Hathaway Class B stock at $485.60, amounted to 60 billion dollars. This donation marks the largest annual contribution in nearly two decades, bringing the total amount donated by the Chairman to over 600 billion dollars since 2006.

The donation was made to the Bill & Melinda Gates Foundation Trust, the Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, the Sherwood Foundation, and the NoVo Foundation. The largest portion, 9,433,839 shares, was allocated to the Bill & Melinda Gates Foundation Trust. The remaining shares were distributed among the other four foundations.

The Chairman's philanthropic efforts have been a long-standing tradition, with a commitment to donate the majority of his wealth to charitable causes. This latest donation underscores his dedication to philanthropy and his belief in the power of giving back to society. The foundations receiving the donation are known for their work in various areas, including global health, education, and social justice, and are expected to use the funds to further their respective missions.

The donation also highlights the Chairman's strategic approach to philanthropy, which involves converting Class A shares into Class B shares to facilitate the donation process. This method allows for a more efficient transfer of wealth to charitable organizations, ensuring that the maximum amount of funds is directed towards the intended causes. The conversion of 8,239 Class A shares into 1,235,8500 Class B shares demonstrates the Chairman's commitment to optimizing the donation process and maximizing its impact.

The Chairman's philanthropic efforts have had a significant impact on the global community, with his donations supporting a wide range of causes and initiatives. This latest donation is expected to further enhance the impact of the foundations receiving the funds, enabling them to expand their programs and reach more people in need. The Chairman's generosity and commitment to philanthropy serve as an inspiration to others, encouraging them to give back to society and make a positive difference in the world.

Following this donation, the Chairman still holds 13.8% of the total shares in Berkshire Hathaway. The Chairman has consistently stated that he has no plans to sell any of his shares in the company. This commitment to holding onto his shares aligns with his long-term vision for the company and his belief in its continued growth and success.

At 94 years old, the Chairman has been leading Berkshire Hathaway since 1965. The company, headquartered in Omaha, Nebraska, has a market capitalization of 1.05 trillion dollars and owns nearly 200 subsidiaries, including Geico Auto Insurance and BNSF Railway. Additionally, the company holds significant investments in stocks such as Apple and American Express.

The Chairman's philanthropic journey began in 2006, and he has since made it a priority to donate the majority of his wealth to charitable causes. In 2022, he amended his will to designate 99.5% of his remaining estate to be managed by a charitable trust overseen by his children. This move further solidifies his commitment to philanthropy and ensures that his wealth will continue to support charitable initiatives long after his passing.