Warren Buffett's Generous $6 Billion Stock Donation

Renowned investor Warren Buffett is donating $6 billion in Berkshire Hathaway shares to five foundations, continuing his philanthropic legacy that began in 2006. The largest share goes to the Bill and Melinda Gates Foundation. Buffett plans to leave almost all his wealth for philanthropic causes.

In a significant philanthropic move, Warren Buffett, the esteemed investor and CEO of Berkshire Hathaway, announced a $6 billion donation from his company's stock to five charitable foundations. This generous act is part of Buffett's ongoing commitment to philanthropy, having contributed approximately $60 billion since 2006.

The Bill and Melinda Gates Foundation Trust will receive the largest portion of this donation, with 9.4 million shares designated for its use. Other beneficiaries include the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G Buffett Foundation, and the NoVo Foundation. The shares, valued at $485.68 each, reflect Berkshire Hathaway's growing market success, with a 19.1% increase over the past year.

Buffett, who has amassed a fortune by strategically investing and acquiring companies at opportune moments, plans to allocate 99.5% of his estate to philanthropic efforts, leaving his legacy in the hands of his children and the institutions he supports. This remarkable donation underscores Buffett's belief in the power of charity and long-term investment.

(With inputs from agencies.)