On Thanksgiving eve, Warren Buffett donated more than $750 million in Berkshire Hathaway stock to four foundations associated with his family. The legendary investor said the timing was no coincidence, as this is his way of giving thanks to his children for their charitable work.
On Thanksgiving eve, Warren Buffett donated more than $750 million in Berkshire Hathaway stock to four foundations associated with his family. The legendary investor said the timing was no coincidence, as this is his way of giving thanks to his children for their charitable work.
"I'm very proud of my kids and how they've turned out," Buffett told CNBC's Becky Quick. "I feel good about the fact that they know I'm proud of them. This is the ultimate endorsement from me, and it's the ultimate statement that my kids don't want to be dynastically wealthy."
The 92-year-old investor donated 1.5 million Class B shares of his conglomerate to the Susan Thompson Buffett Foundation, named for his first wife. He also gave 300,000 Class B shares apiece to the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.
This time, the recipients didn't include the Bill & Melinda Gates Foundation. The "Oracle of Omaha" has vowed to give away his fortune over time, and has been making annual donations to the same five charities since 2006.
In June, Warren Buffett donated 11 million Class B shares to the Gates Foundation, 1.1 million B shares to the Susan Thompson Buffett Foundation, and 770,218 shares to each of his children's three foundations.
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