NEW YORK: Warren Buffett contributed US$3.4 billion to five charities as the investor continues making good on a pledge to give away all of his Berkshire Hathaway Inc. shares.
Buffett, 87, has donated a total of about US$31 billion to the foundations, according to a statement Monday from Berkshire, where he is the chief executive officer and chairman. The latest gift, comprised of about 17.7 million Class B shares, went to charities including the Bill and Melinda Gates Foundation, one named after his first wife who died in 2004, and each of his children’s foundations.
The billionaire investor pledged in 2006 to give his wealth to philanthropy and has pushed other entrepreneurs to pursue charitable giving. Donations to the five foundations have been boosted by gains in Berkshire’s stock price, which climbed 13% over the past year.