Investor Donates 60 Billion Dollars in Berkshire Hathaway Stock to Charities

In a landmark move, the renowned investor and philanthropist announced a record-breaking donation of 60 billion dollars worth of Berkshire Hathaway stock to five charitable foundations. This donation, made on June 27, marks the largest single-year contribution from the investor since he began his philanthropic journey nearly two decades ago.

The donation consists of approximately 12.36 million shares of Berkshire Hathaway Class B stock. This significant contribution will push the cumulative amount donated to these foundations to over 600 billion dollars. According to a statement released by Berkshire Hathaway on June 27, the investor converted 8,239 shares of Class A stock into 12,358,500 shares of Class B stock to facilitate the donation of 12,358,321 shares to the five foundations. The funds are expected to be received by the foundations on June 30.

Despite this substantial donation, the investor remains a significant shareholder in Berkshire Hathaway, holding 13.8% of the company's shares. Based on the closing price of Berkshire Hathaway Class B stock on June 27, which was 485.6 dollars per share, the total value of the donation amounts to 60 billion dollars. Prior to this donation, the investor's net worth was estimated to be 152 billion dollars, placing him as the fifth wealthiest individual globally. Following this philanthropic act, his net worth ranking is expected to drop to the sixth position.

This year's donation surpasses the previous record of 53 billion dollars made in June 2023, marking the largest annual contribution since the investor began his philanthropic efforts in 2006. In a statement, the investor reiterated his commitment to not selling any of his Berkshire Hathaway shares, emphasizing his dedication to philanthropy through stock donations.

The investor has been at the helm of Berkshire Hathaway, headquartered in Omaha, Nebraska, since 1965. The conglomerate, with a market capitalization of 1.05 trillion dollars, encompasses nearly 200 subsidiaries, including Geico, the fourth-largest auto insurer in the United States, and BNSF Railway, one of the largest rail networks in North America. Additionally, the company holds significant investments in publicly traded companies such as Apple and American Express.

In a recent update to his will, the investor stipulated that upon his passing, 99.5% of his remaining wealth will be donated to a charitable trust managed by his children. The trust requires unanimous agreement among the children regarding the allocation of funds. The investor's children, who are now in their late sixties and early seventies, include Susan Buffett, Howard Buffett, and Peter Buffett.

Each of the foundations supported by the investor has distinct focuses. The Susan Thompson Buffett Foundation, led by Susan Buffett, concentrates on reproductive health. The Sherwood Foundation supports non-profit organizations and early childhood education in Nebraska. The Howard G. Buffett Foundation addresses global hunger, combats human trafficking, and mitigates conflict. The NoVo Foundation aims to assist marginalized girls and women, as well as indigenous communities.

Last year, the investor announced that he would cease donations to the Bill & Melinda Gates Foundation upon his death, redirecting his philanthropic efforts to other causes.