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Warren Buffett donates $4 billion to charity

Warren Buffett donates $4 billion to charity

Berkshire Hathaway Inc, which Buffett has run since 1965, said the donation includes about 14.4 million Class B shares, which closed at $277.64 on Tuesday.

Eleven million shares will go to Bill and Melinda Gates Foundationand $1.1 million to the Susan Thompson Buffett Foundation, named after the billionaire’s late first wife.

Another 770,000 shares will be allocated to each of the three charities run by Buffett’s children, Howard, Susan and Peter: The Howard G. Buffett Foundation, the Sherwood Foundation and the Nouveau Foundation.

Since 2006, Buffett, 91, has donated more than half of his Berkshire stock, with the donations amounting to approximately $45.5 billion at the time of submission.

Despite the donations, Buffett still owns about 16% of Berkshire and controls about a third of its voting power. The two percentages have stabilized somewhat in recent years because Berkshire aggressively repurchased its shares.

Buffett and Bill Gates pioneered the Giving Pledge, with more than 200 people including Michael Bloomberg, Larry Ellison, Karl Icahn, Elon Musk and Mark Zuckerberg pledging at least half of their fortunes to charity.

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