Warren Buffett makes gift to Gates Foundation worth $1.43B
SEATTLE (AP) - Billionaire Warren Buffett has donated $1.25 billion in Berkshire Hathaway Inc. stock to the Bill & Melinda Gates Foundation.
The gift is the third installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation.
Last year, before the recession depressed Berkshire Hathaway's stock, his gift of a similar number of shares was worth $1.8 billion, or 30 percent more.
Thursday's filing with the Securities and Exchange Commission also lists donations of shares of Class B stock worth $125 million to the Susan Thompson Buffett Foundation and nearly $50 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.
Class B shares were worth $2,924 at the close of trading July 1, the day Buffett transferred their ownership.
The foundation is the world's largest with an endowment of $27.5 billion as of April 2009.
Omaha, Neb.-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses.
The gift is the third installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation.
Last year, before the recession depressed Berkshire Hathaway's stock, his gift of a similar number of shares was worth $1.8 billion, or 30 percent more.
Thursday's filing with the Securities and Exchange Commission also lists donations of shares of Class B stock worth $125 million to the Susan Thompson Buffett Foundation and nearly $50 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.
Class B shares were worth $2,924 at the close of trading July 1, the day Buffett transferred their ownership.
The foundation is the world's largest with an endowment of $27.5 billion as of April 2009.
Omaha, Neb.-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses.