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James Li
James Li
Articles (1285)  | Author's Website |

Warren Buffett Donates $2.9 Billion Worth of Berkshire Stock to Charity

Oracle of Omaha continues annual giving plan, which began in 2006

July 10, 2020 | About:

Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett (Trades, Portfolio) announced this week he donated approximately $2.9 billion in his conglomerates common stock to five charities, including the foundation established byBill Gates (Trades, Portfolio).

According to GuruFocus Real-Time Picks, a Premium feature, the transaction reduced Buffetts holding in Berkshire Class A stock to 248,734 shares.

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Transaction details

The Omaha, Nebraska-based conglomerate announced in a press release that Berkshire contributed 15,971,345 Class B shares to five foundations: Bill and Melinda Gates Foundation, Susan Thompson Buffett Foundation, The Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

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Buffett initiated the annual charity donations in June 2006, increasing the donations starting in August 2012. For each donation, the Oracle of Omaha converts a significant amount of Berkshire Class A shares into Class B shares. The donations during the 15-year program have reduced Buffetts holding of Class A shares from 474,998 to 248,734.

See also

Buffett and co-Berkshire manager Charlie Munger (Trades, Portfolio) developed a four-criterion investing approach to finding good companies at fair prices: understandable business, favorable long-term prospects, competent management and attractive prices. Specifically, companies should have high business predictability, strong profit margins, no meaningful long-term debt and low price-earnings-to-growth ratios.

Disclosure: No positions.

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About the author:

James Li
I am an editorial researcher at GuruFocus. I have a Master's in Finance from SMU, and I enjoy writing reports on financial trends and investor portfolios. Follow me on Twitter at @JamesLiGuru!

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