Buffett donates stock
NEW YORK (Bloomberg) — Billionaire investor Warren Buffett this week gave shares of his Berkshire Hathaway valued at about $1.8 billion to the foundation run by Microsoft Corp. founder Bill Gates and his wife.
Buffett, ranked the world’s richest man by Forbes magazine, donated 451,250 of his Berkshire Class B shares to the organization on Tuesday, Gates’ attorney said in a regulatory filing Thursday. The shares were valued at $3,999 that day.
The donation is the latest gift by Buffett, helping him to fulfill a pledge he made in 2006 to give the bulk of his fortune to the Bill & Melinda Gates Foundation. At the time it was announced, the donation was valued at $30.7 billion, making it the largest charitable commitment in history, according to the Chronicle of Philanthropy.
The Buffalo News is a division of Berkshire Hathaway and Buffett is the newspaper’s chairman.
