Warren Buffett Contributes A Record US$6 Billion in Berkshire Shares

On Friday, Warren Buffett contributed an additional US$6 billion (RM25.37 billion) of Berkshire Hathaway shares to the Gates Foundation and four family organizations, marking his largest yearly commitment since he commenced his philanthropic efforts nearly two decades ago.

The contribution of about 12.36 million Berkshire Class B shares elevated Buffett's total charitable donations to almost US$60 billion.

He contributed 9.43 million shares to the Gates Foundation; 943,384 shares to the Susan Thompson Buffett Foundation; and 660,366 shares to each of three organizations managed by his children Howard, Susie, and Peter: the Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation.

Warren Buffett retains 13.8% ownership of Berkshire's equity, according to reported shares outstanding.

His personal fortune of US$152 billion before Friday's donations positioned him as the fifth-richest individual globally, as reported by Forbes magazine.

Following the gifts, Buffett would be positioned sixth, having exceeded the US$5.3 billion he contributed last June. In November, he contributed a further US$1.14 billion to the family charity.

Buffett asserted that he did not plan to divest any Berkshire shares. At the age of 94, Buffett commenced the distribution of his wealth in 2006. Last year, he amended his will to allocate 99.5% of his remaining estate posthumously to a charitable trust managed by his children.

They will possess approximately ten years to allocate the funds and must reach a majority decision regarding their distribution. Susie Buffett is 71 years old, Howard Buffett is 70 years old, and Peter Buffett is 67 years old.

Warren Buffett has directed Berkshire, headquartered in Omaha, Nebraska, since 1965. The US$1.05 trillion conglomerate possesses around 200 enterprises, including Geico car insurance and the BNSF railroad, as well as numerous equities such as Apple and American Express.

Susie Buffett directs the Susan Thompson Buffett Foundation, which finances reproductive health initiatives and is named after her mother, Warren Buffett's first spouse.

The Sherwood Foundation provides assistance to Nebraska charities and early childhood education initiatives. The Howard G. Buffett Foundation concentrates on global hunger, addressing human trafficking, and alleviating conflicts. The NoVo Foundation implements activities aimed at marginalized girls and women, as well as indigenous communities.

Buffett stated last June that contributions to the Gates Foundation would cease upon his death.