Buffett has been donating to the same five charities every year since 2006.
As per the records, Warren Buffett has donated more than $750 million from Berkshire Hathaway stock to the four foundations which are directed by his family. However, unlike donations to charity every summer, the recipient is not the Bill & Melinda Gates Foundation
According to filings filed with the Securities and Exchange Commission, Buffett said he had transferred 1.5 million Grade B shares in Omaha, a conglomerate he led, to the Susan Thompson Buffett Foundation, named after his first wife. He also donated 300,000 Class B shares to three funds run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation.
In June, he donated 11 million shares of Grade B stock to the Gates Foundation, 1.1 million shares of Grade B stock to the Susan Thompson Buffett Foundation, and 770,218 shares each to the Three Children Foundation.
It wasn’t immediately clear what prompted the new donation this week, and Buffett didn’t immediately respond to questions about it on Wednesday. The Gates Foundation and the Buffett Family Foundation, which received the gift, did not immediately respond to questions.
Another major change Warren Buffett has made to his endowment plan over the past few years is that he significantly increased the amount he pledged to the fund his children run because 10 years ago he was happy with what he was doing with his money.
Susie Buffett aged 69 uses the Sherwood Foundation to develop early childhood schooling and subsidizes several projects in warren Buffet’s hometown of Omaha. Howard Buffett, aged 67 works to help farmers in poor countries produce more and end world hunger through his namesake foundation. Peter Buffett, aged 64, has devoted his NoVo Foundation to empowering women and girls around the world via education, partnerships, and economic development to end violence against women. Even with these latest gifts, Buffett still dominates over 31% of the Berkshire vote.
Berkshire Hathaway is a diversified conglomerate that possesses more than 90 companies, including BNSF Railways, Geico Insurance Company, several major utility companies, and manufacturing and retail companies, including Precision Castparts, Dairy Queen, and Helzberg Diamonds. In accumulation to the companies that Berkshire owns, it has substantial investments in Apple, Bank of America, Coca-Cola, and more.
