Buffett Makes $2 Billion Donation to Gates Foundation

Kathleen Chaykowski
July 8, 2013

Warren Buffett, the billionaire investor whose fortune swelled this year with a surge in Berkshire Hathaway Inc. (BRK/A)’s share price, contributed about $2 billion in stock to the foundation created by Microsoft Corp. co-founder Bill Gates.

Buffett, Berkshire’s chairman and chief executive officer, donated about 17.5 million of his company’s Class B shares in his annual gift to the Bill and Melinda Gates Foundation, the Omaha, Nebraska-based firm said today in a statement. The stock has climbed 29 percent this year to $115.46 at 11:36 a.m. in New York.

Buffett is a trustee of the foundation and the world’s third-richest man with a net worth of about $61 billion, according to the Bloomberg Billionaires Index, a daily ranking of the wealthiest people. He has campaigned to promote charitable giving among the wealthy through the Giving Pledge initiative.

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This article was posted: Monday, July 8, 2013 at 12:12 pm

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Republished with permission from: Infowars