Warren Buffett donated greater than $750 million in Berkshire Hathaway stock to 4 foundations associated along with his family on Thanksgiving eve, and the legendary investor said the timing was no coincidence as that is his way of giving due to his children for his or her charitable work.
“I’ve got a private pride in how my kids turned out,” Buffett told CNBC’s Becky Quick. “I feel good concerning the proven fact that they know I be ok with them. That is the final word endorsement in my kids, and it’s the final word statement that my kids don’t desire to be dynastically wealthy.”
The 92-year-old investor donated 1.5 million Class B shares of his conglomerate to the Susan Thompson Buffett Foundation, named for his first wife. He also gave 300,000 Class B shares apiece to the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.
The recipients this time didn’t include the Bill & Melinda Gates Foundation. The “Oracle of Omaha” has vowed to offer away his fortune over time and has been making annual donations to the identical five charities since 2006.
In June, he gave 11 million Class B shares to the Gates Foundation, 1.1 million B shares to the Susan Thompson Buffett Foundation and 770,218 shares apiece to his kid’s three foundations.