RM Investor Warren Buffett to Donate $6 Billion in Berkshire Stock to Five Foundations

Warren Buffett, the renowned investor and longtime head of Berkshire Hathaway, is set to contribute $6 billion worth of Berkshire stock to five different foundations. With this new gift, the total amount he has donated since 2006 will rise to roughly $60 billion, based on the stock values when the foundations received them.

Buffett announced late Friday that the shares will be transferred on Monday. The donation consists of nearly 12.4 million Class B shares of Berkshire Hathaway—shares that trade at far lower prices than the company’s famed Class A stock. As of Friday’s close, each Class B share was priced at $485.68. Berkshire Hathaway controls a wide range of businesses, including Geico and Dairy Queen.

Earlier in May, Buffett revealed that he plans to step down as Berkshire Hathaway’s CEO and intends to recommend Greg Abel as his successor by the end of the year. Buffett emphasized that he does not intend to sell any of his Berkshire shares.

Since pledging in 2006 to give away the majority of his wealth, Buffett has consistently directed large gifts to philanthropy. He has said that his children—who share his commitment to using private philanthropy to address wealth inequality—will serve as executors of his will.

The largest share of this new donation will go to the Bill & Melinda Gates Foundation Trust, which is set to receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, while the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation will each be given 660,366 shares.

Last year, Buffett made headlines when he announced that donations to the Gates Foundation would cease after his death, leaving his three children responsible for determining how the remainder of his fortune will be distributed.

Berkshire Hathaway’s Class B stock has risen 19.1% over the past year, outpacing the overall U.S. stock market’s 14.1% return, including dividends. Known for his value-driven investment philosophy—seeking strong companies at reasonable prices and being cautious during market highs—Buffett has built an estimated net worth of around $145 billion, nearly all of it tied to Berkshire stock.

“Nothing extraordinary has occurred at Berkshire,” Buffett said in a statement. “A long runway, straightforward and mostly sound decisions, the American tailwind, and the power of compounding have produced my current wealth. My will directs that about 99.5% of my estate will go toward charitable purposes.”