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Tuesday, February 27, 2024

Buffett Donates $27M Berkshire Stock

Warren Buffett donates nearly $27 million in Berkshire Hathaway stock this week to an undisclosed charity, as part of his ongoing philanthropic efforts.The donation of 50 Class A shares was revealed in a filing with the U.S.

Securities and Exchange Commission on Wednesday. The contribution was made on August 15, with the shares valued at around $538,107 at the time of closing.

This donation is distinct from Buffett’s annual contributions to the Bill & Melinda Gates Foundation and his family’s four charities, which have received over $51 billion from him since 2006.

Berkshire has not yet provided further details about this latest donation. Currently, Buffett retains ownership of 218,237 Class A shares, representing about 15% of the conglomerate based in Omaha, Nebraska, which he has led since 1965.

Forbes estimates Buffett’s net worth at $118.3 billion, making him the fifth wealthiest individual globally. The philanthropist has affirmed his intention to allocate over 99% of his wealth to charitable causes.

Berkshire Hathaway possesses a diverse portfolio of businesses including BNSF railroad, Geico car insurance, and numerous energy, manufacturing, and retail ventures.

Additionally, the company held more than $353 billion in stocks by June 30, with around half of this value invested in Apple.

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