Buffett gives stock worth $1.9B to 5 foundations
OMAHA, Neb. — Investor Warren Buffett has delivered his annual gifts of Berkshire Hathaway stock worth $1.9 billion to the five foundations he has promised the bulk of his $45 billion fortune to.
Buffett made his gift of 24.5 million Class B shares of Berkshire Hathaway Inc. stock on Thursday.
Most of the shares — 20.4 million — went to the Bill & Melinda Gates Foundation; the rest went to Buffett's own foundation and those run by his three children.
After making these gifts, the 79-year-old Buffett holds 350,000 Class A shares and 50.4 million Class B shares of stock in the company he runs.
Buffett gives each foundation 5 percent of his remaining pledge annually in July in accordance with the plan he announced in 2006.