Buffett donates $2.7b
Jul 4, 2010


Warren Buffett, who has pledged to give away 99 percent of his wealth, has donated US$1.93 billion (S$2.7 billion) in shares of his company to five charitable groups.
PHOTO: REUTERS

WASHINGTON - US BILLIONAIRE Warren Buffett, who has pledged to give away 99 percent of his wealth, has donated US$1.93 billion (S$2.7 billion) in shares of his company to five charitable groups, financial filings showed.

In notifications to the US Securities and Exchange Commission, Buffet documented donations to five charitable organisations, including a gift worth US$1.6 billion to the Bill and Melinda Gates Foundation.

Mr Buffett, who heads investment firm Berkshire Hathaway, pledged in 2006 to donate a portion of 10 billion shares in his company every July to the charity run by former Microsoft chief Bill Gates.

His donation to the organisation this year totals some 20.4 million shares in Berkshire Hathaway. The gift is worth around 1.6 billion dollars at the US$78.81-a-share value of company's stock on Thursday, when the SEC notification was filed.

He also informed the SEC of donations of some 713,000 shares each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation, and a gift of over two million shares to the Susan Thompson Buffett Foundation.

straitstimes.com