Warren Buffett Donates $1.52 Billion To Bill And Melinda Gates Foundation
Warren Buffett is continuing to make good on his promise to donate most of his wealth to charity.
The third richest person in the world gave about 18.4 million of his company’s Class B shares, valued at $1.52 billion, to the Bill and Melinda Gates Foundation, Bloomberg Businessweek reported Saturday. Giving generous donations the nonprofit that aims to improve education and healthcare has become an annual tradition for Buffett who has pledged to ultimately contribute 10 million Class B shares to the foundation.
Buffett, who has long touted the obligation of the rich to share their wealth with those in need, teaches by example.
Last year, the mogul gave $1.78 billion to four charities, with the majority of it going to the Gates Foundation, according to Reuters.
But the chairman and chief executive officer of Berkshire Hathaway Inc. is just as intent on donating as he is on motivating others to do the same.
Together with Bill Gates, Buffett has inspired 81 billionaires to join the giving pledge, an initiative that asks the mega rich to give over half of their fortunes to charity.
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