Warren Buffett donates record $7.7 billion Berkshire shares
The donation is Berkshire Hathaway Chairman Warren Buffett's biggest annual donation since he began giving away his fortune nearly two decades ago. PHOTO: REUTERS
American billionaire Warren Buffett donated on June 28 another US$6 billion (S$7.7 billion) of Berkshire Hathaway stock to the Gates Foundation and four family charities, his biggest annual donation since he began giving away his fortune nearly two decades ago.
The donation of about 12.36 million Berkshire Class B shares boosted Mr Buffett's overall giving to the charities to well over US$60 billion.
He donated 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 charities led respectively by his children Howard, Susie, and Peter: the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation.
Mr Warren Buffett still owns 13.8 per cent of Berkshire's stock, based on reported shares outstanding.
His US$152 billion net worth prior to the June 27 donations made him the world's fifth-richest person, according to Forbes magazine.
Mr Buffett would rank sixth after the donations, which surpassed the US$5.3 billion he donated in June 2024 . He donated another US$1.14 billion to the family charities in November 2024 .
In a statement, Mr Buffett maintained he does not intend to sell any Berkshire shares.
Now 94, Mr Buffett began giving away his fortune in 2006.
He changed his will in 2024 , designating 99.5 per cent of his remaining fortune after his death to a charitable trust overseen by his children.
They will have about a decade to distribute the money, and must decide where it goes unanimously. Ms Susie Buffett is 71, Mr Howard Buffett is 70, and Mr Peter Buffett is 67.
Mr Warren Buffett has led the Omaha, Nebraska-based Berkshire since 1965.
The US$1.05 trillion conglomerate owns close to 200 businesses including Geico car insurance and the BNSF railroad, and dozens of stocks including Apple and American Express.
Ms Susie Buffett leads the Susan Thompson Buffett Foundation, which funds reproductive health and is named for her mother, who was Mr Warren Buffett's first wife.
The Sherwood Foundation supports Nebraska nonprofits and early childhood education. The Howard G. Buffett Foundation focuses on global hunger, combating human trafficking and mitigating conflicts. The NoVo Foundation has initiatives focused on marginalised girls and women, and on indigenous communities.
Mr Buffett said last June that donations to the Gates Foundation would end when he dies. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
23 minutes ago
- Straits Times
Former head of major Chinese airline under graft investigation
Mr Liu Shaoyong, who headed the airline from 2009 until 2022, is being investigated for 'serious violations of discipline and law'. PHOTO: AFP Former head of major Chinese airline under graft investigation BEIJING - The former head of China Eastern Airlines is under investigation over corruption allegations, two Chinese anti-graft bodies said on June 28. Mr Liu Shaoyong, who headed the airline from 2009 until his resignation in 2022, is being investigated for 'serious violations of discipline and law', the Central Commission for Discipline Inspection and the National Supervisory Commission said in a statement. The Shanghai-based airline, primarily owned by the Chinese government through its parent company, is one of the three largest Chinese airlines. Mr Liu was credited with turning the carrier around after it posted record losses before he was appointed. China Eastern Airlines under his leadership merged with Shanghai Airlines and joined the SkyTeam airline alliance, strengthening its position in domestic and international markets. Mr Liu also led another one of China's major airlines, China Southern, before taking the reins of China Eastern. Chinese President Xi Jinping has waged an unrelenting crackdown on corruption since coming to power over a decade ago. Proponents say the policy promotes clean governance but others say it also serves as a means for Mr Xi to purge political rivals. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
AsiaOne
3 hours ago
- AsiaOne
Eye care giant Alcon keeps 'lens' on the future with expanded manufacturing and logistics facility in Tuas, Singapore News
Eye care-device giant Alcon officially opened its expanded state-of-the art manufacturing and logistics facility in Tuas Biomedical Park on Friday (June 27) morning. This brings Alcon's investments in Singapore to more than US$600 million (S$765 million) since it began operations in Singapore back in 2005. The completed Tuas facility is one of the Swiss-American firm's largest high-tech manufacturing sites with Industry 4.0 capabilities, advanced automation and smart manufacturing systems to meet the increasing global demand for its contact lenses. Amid a growing middle class and rising demand for quality healthcare, the Asia-Pacific region continues to be the fastest-growing market for medical technology, with its market value projected to reach nearly S$300 billion by 2030. This puts the region second only to the US as a source of demand for medical technology (Medtech). "Singapore is home to some of the world's best-in-class Medtech manufacturing palnts. The sector has been growing steadily, with a manufacturing output of S$19.4 billion in 2023. This marks a $5.2 billion increase over the past decade," said Senior Minister of State for Trade and Industry Low Yen Ling at the opening ceremony of Alcon's expanded facility. Beyond strengthening innovation and supply chain resilience within Singapore's MedTech ecosystem, Alcon's investment is also expected to benefit Singaporean workers and small- and medium-sized enterprises (SMEs) in Singapore. Muhammad Haiqal Bin Sapuan, an associate supervisor at Alcon made the switch from the oil and gas industry, through the Career Conversion Programme (CCP), in 2022 to have more time with his family. A year and a half into his role as a senior technician, he was nominated by his peers to step up as an associate supervisor. [[nid:707984]] "That recognition gave me confidence. I started off as an interim, and it was tough at first, but the team's support made the difference," said Haiqal. To date, nearly 180 Singaporean workers have benefitted from the CCP to become Alcon associates. Alcon's new facility is expected to create new job opportunities in production operations, quality control and supply chain management. It is also expected to strengthen innovation and supply chain resilience within Singapore's Medtech ecosystem through initiatives such as the Partnership for Capability Transformation, which partners local SMEs to buiild capabilities from precision moulding to packaging, helping them to scale and compete globally. [[nid:715407]] editor@
CNA
3 hours ago
- CNA
Warren Buffett donates record US$6 billion Berkshire shares
Warren Buffett donated on Friday (Jun 27) another US$6 billion of Berkshire Hathaway stock to the Gates Foundation and four family charities, his biggest annual donation since he began giving away his fortune nearly two decades ago. The donation of about 12.36 million Berkshire Class B shares boosted Buffett's overall giving to the charities to well over US$60 billion. He donated 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 charities led respectively by his children Howard, Susie, and Peter: the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation. Warren Buffett still owns 13.8 per cent of Berkshire's stock, based on reported shares outstanding. His US$152 billion net worth prior to Friday's donations made him the world's fifth-richest person, according to Forbes magazine. Buffett would rank sixth after the donations, which surpassed the US$5.3 billion he donated last June. He donated another US$1.14 billion to the family charities last November. In a statement, Buffett maintained he does not intend to sell any Berkshire shares. Now 94, Buffett began giving away his fortune in 2006. He changed his will last year, designating 99.5 per cent of his remaining fortune after his death to a charitable trust overseen by his children. They will have about a decade to distribute the money, and must decide where it goes unanimously. Susie Buffett is 71, Howard Buffett is 70, and Peter Buffett is 67. Warren Buffett has led Omaha, Nebraska-based Berkshire since 1965. The US$1.05 trillion conglomerate owns close to 200 businesses, including Geico car insurance and the BNSF railroad, and dozens of stocks, including Apple and American Express. Susie Buffett leads the Susan Thompson Buffett Foundation, which funds reproductive health and is named for her mother, who was Warren Buffett's first wife. The Sherwood Foundation supports Nebraska nonprofits and early childhood education. The Howard G. Buffett Foundation focuses on global hunger, combating human trafficking and mitigating conflicts. The NoVo Foundation has initiatives focused on marginalised girls and women and on indigenous communities. Buffett said last June that donations to the Gates Foundation would end when he dies.
