Billionaire Warren Buffett gives US$1.5bil to Gates Foundation
SEATTLE: Investor Warren Buffett has made his annual gift of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation, turning over about US$1.5 billion worth of stock.
According to a Thursday filing with the Securities and Exchange Commission, Buffett donated 19.34 million Class B shares of the company's stock.
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The closing price of Class B shares on Thursday was $77.77.
The gift is the fifth installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation run by the Microsoft Corp. co-founder and his wife. The foundation is the world's largest with an endowment of $37.1 billion as of March 31.
Omaha, Nebraska-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses. - AP
According to a Thursday filing with the Securities and Exchange Commission, Buffett donated 19.34 million Class B shares of the company's stock.
The gift is the fifth installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation run by the Microsoft Corp. co-founder and his wife. The foundation is the world's largest with an endowment of $37.1 billion as of March 31.
Omaha, Nebraska-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses. - AP
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