Warren Buffett's Big Heart: $6 Billion Gift to Charities

Warren Buffett, the renowned investor, has once again made a significant charitable contribution. He has donated $6 billion worth of his company's stock to five different foundations. This is part of his ongoing philanthropy, as he has given away approximately $60 billion since 2006.

Details of the Donation

• Announcement: Made on a Friday evening.
• Stock Transfer: Scheduled for Monday.
• Company: Berkshire Hathaway, which owns notable businesses like Geico and Dairy Queen.
• Shares Donated: Nearly 12.4 million Class B shares.
• Share Value: Each B share was worth $485.68 on Friday.

Distribution of Shares

• Bill & Melinda Gates Foundation Trust: 9.4 million shares.
• Other Foundations:
• Susan Thompson Buffett Foundation
• Sherwood Foundation
• Howard G. Buffett Foundation
• NoVo Foundation

Buffett's Philanthropic Plans

Last year, Buffett announced that he will not donate to the Bill & Melinda Gates Foundation after his death. Instead, his three children will decide how to use the remaining portion of his wealth.

Berkshire Hathaway's Performance

• Class B Stock Growth: Up by 19.1% in the last year.
• Market Comparison: Higher than the general U.S. stock market return of 14.1%, including dividends.

Buffett's Insights

Buffett attributes his wealth to:

• A long-term plan.
• Simple and good decisions.
• The American advantage.
• The power of compounding.

He also stated that almost all of his estate will go to charity.