Warren Buffett explains his $750 million charitable donation on Thanksgiving Eve

Warren Buffett

Gerard Miller | CNBC

Warren Buffett donated more than $750 million in Berkshire Hathaway stock to four foundations associated with his family on Thanksgiving eve, and the legendary investor said the timing was no accident because this is his way of thanking his children for their philanthropy.

“I have a personal pride in how my kids turn out,” Buffett told CNBC’s Becky Quick. “I feel good about the fact that they know I feel good about them. This is the ultimate endorsement for my kids, and it’s the ultimate statement that my kids don’t want to be dynamically wealthy.”

The 92-year-old investor donated 1.5 million Class B shares of his portfolio to the Susan Thompson Buffett Foundation, which is named after his first wife. He also gave 300,000 Class B shares to each of the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation, and the Novo Foundation.

This time, the beneficiaries did not include the Bill & Melinda Gates Foundation. The Oracle of Omaha has pledged to give away his fortune over time and has made annual donations to the same five charities since 2006.

In June, he gave 11 million Class B shares to the Gates Foundation, 1.1 million B shares to the Susan Thompson Buffett Foundation and 770,218 shares to each of his three children’s foundations.

Related Posts

Japanese billionaire Maezawa selects K-pop star TOP and DJ Steve Aoki to join SpaceX’s lunar flight

Tokyo – Japanese Billionair Yusaku Maezawa open On Friday that K-pop star higher And the DJ Steve Okay He will be among the eight crew members he…

Regulations that have lagged behind emerging carbon markets

Special reports Regulations that have lagged behind emerging carbon markets Friday, December 09, 2022 November was an eventful month. We had the US midterm elections and the…

Jeremy Hunt announces major reforms to the UK’s financial sector, seeking to ‘boost growth’

Chancellor Jeremy Hunt will launch a major overhaul of the UK’s financial sector, with plans to tear up red tape and replace a number of EU regulations….

Bitcoin Holds Near $17,000; Coinbase, miners lead to decline

Bitcoin ends the week mired in the narrow range that has been in place since the FTX stock market crash, while Coinbase Global and miners have continued…

AI inference platform NeuReality raises $35 million

Israeli next-generation AI inference platform NeuReality has announced the completion of a $35 million Series A funding round led by Samsung Ventures, Cardumen Capital, Varana Capital,…

On the eve of Lula’s testimony, Bolsonaro said the army is the last obstacle to socialism

The conservative president has been virtually silent in public since his defeat by leftist Lula on October 30.

Leave a Reply

Your email address will not be published. Required fields are marked *