Why Did Warren Buffett donate Rs 50000000000 to these 5 people? Who they are and what they do?
Warren Buffett Net Worth: One of the biggest investors and a very prominent name in the trading Warren Buffet is always in the news for his investments or new blueprints to beat the market. This time the 94 years old businessman has made headlines across the world by donating shares worth USD 6 billion (approx Rs 50 thousand crores) of his company Berkshire Hathaway. The historic donation was made on Friday and it is his biggest annual donation since he started donating his fortune nearly 20 years ago in 2006.
Who Got This Donation From Buffett?
The ace investor and businessman donated a total of over 1 crore 23 lakh Class B shares of his company. Out of which 94,30,000 shares were donated to billionaire philanthropist Bill Gates foundation named – Bill and Melinda Gates Foundation. 9 lakh 43 thousand shares were given to the Susan Thompson Buffett Foundation. Rest of the 6 lakh 60 thousand shares each were donated to three foundations run by his three children, Howard G Buffett Foundation, Sherwood Foundation and NoVo Foundation.
How Much Is Warren Buffett’s Stake In Berkshire Hathaway?
Warren Buffett recently donated a total shares of about Rs 5 lakh crore so far. Even after the massive donation, he still has a 13.8 percent stake in Berkshire Hathaway, Reuters reported.
Net Worth Drops, But Still In The Top 10
Buffett’s recent donation obviously reduced his net worth, dropping his global ranking from the fifth to the sixth richest person. His wealth was previously estimated at USD152 billion. This contribution exceeds his previous donations of USD5.3 billion and USD1.14 billion made in June and November 2024.
What Did Buffett Say?
Buffett clarified that he is not going to sell any shares of his company – Berkshire Hathaway. The 94-year-old businessman has been heading the company since 1965. His company’s current value is USD1.05 trillion and has stakes in big companies like – Geico, BNSF Railway, Apple and American Express.
Complete Planning Of Donation After Death
As per Warren Buffett’s will, 99.5 percent of his estate will be given to a charitable trust managed by his three children. They will have 10 years to determine the trust’s philanthropic allocation. Interestingly, the will excludes the Bill & Melinda Gates Foundation from receiving any inheritance.
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