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article imageWarren Buffett donates $2.8 billion to charities

By Ryan Hite     Jul 17, 2014 in Business
Warren Buffett broke his own record by donating $2.8 billion dollars to the Bill and Melinda Gates Foundation and family charities through selling stock.
Warren Buffett donated $2.8 billion of Berkshire Hathaway Inc stock to five charities as part of his plan to give away nearly all of his wealth.
Buffett donated about 21.73 million Class "B" shares of Berkshire Hathaway on Monday.
About 16.6 million shares, worth $2.1 billion, went to the Bill and Melinda Gates Foundation, which was founded by the famed Microsoft founder and focuses on education, health, and poverty alleviation.
The remainder went to four family charities, including a foundation named for his late wife Susan and separate foundations for his children Howard, Peter and Susan.
The $2.8 billion donation is the most Buffett has donated to these charities ever and is a reflection of Berkshire's near-record share price, since he began making these gifts in 2006.
Buffett still controls nearly 20 percent of the company's stock, which made him worth $65.8 billion on Monday, according to Forbes.
Only Mexico telecommunications mogul Carlos Slim and Bill Gates, the Microsoft Corp co-founder and Berkshire director, were worth more, Forbes stated.
Berkshire has about 80 operating businesses and ended March with more than $146 billion of stock and bond investments. Buffett has run the company since 1965.
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