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Investor Warren Buffett gives away 1.9bn dollars

Investor Warren Buffett delivered his annual gifts of Berkshire Hathaway stock worth 1.9 billion US dollars (£1.2 billion) to the five foundations he promised the bulk of his 45 billion US dollar (£29.6 billion) fortune to.

Mr Buffett made his gift of 24.5 million Class B shares of Berkshire Hathaway stock on Thursday.

Most of the shares - 20.4 million - went to the Bill & Melinda Gates Foundation; the rest went to Mr Buffett's own foundation and those run by his three children.

After making these gifts, the 79-year-old Mr Buffett holds 350,000 Class A shares and 50.4 million Class B shares of stock in the company he runs.

Mr Buffett gives each foundation 5% of his remaining pledge annually in July in accordance with the plan he announced in 2006.


From Belfast Telegraph