Ahead Of His 93rd Birthday, Warren Buffett Donates $27 Million Worth Of Berkshire Stock To Charity

Less than two weeks are left for billionaire Warren Buffett to turn a year older. The world¡¯s fifth-richest person (as per Forbes list) will celebrate his 93rd birthday later this month, on August 30.

Ahead of that, Warren Buffett, who has been kind enough to donate billions of dollars in the past, has done so again.

Warren Buffett Donates $27 Million To Charity

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Warren Buffett donated nearly $27 million of Berkshire Hathaway stock this week to an unnamed charity, which marks the latest move in the billionaire's pledge to give away 99% of his fortune.

Berkshire disclosed Buffett's donation of 50 Class A shares in a Wednesday night filing with the U.S. Securities and Exchange Commission (SEC), as per a Reuters report. The donation was made on August 15th.

This donation is separate from Warren Buffett's annual gifts to the Bill & Melinda Gates Foundation and four charities overseen by his family. They have received more than $51 billion from Buffett since 2006.

Warren Buffett still owns 218,237 Class A shares of Berkshire, for an approximately 15% stake in Berkshire Hathaway, which he has been running since the year 1965. Buffett's net worth is $118 billion, ranking him fifth on the Forbes richest people's real time list. Also, did you know that Buffett still lives in the same house that he bought in 1958?

Also Read: 10 Inspirational Quotes From Warren Buffett

Warren Buffett Had Pledged To Donate 99% Of His Wealth

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In 2010, Warren Buffett signed the giving pledge, which mentioned he would donate more than 99% of his net worth to charity. In that year, Warren Buffett, Melinda French Gates, and Bill Gates created the 'Giving Pledge' foundation, which is an initiative to encourage wealthy people to donate a majority of their wealth to philanthropic causes.

"More than 99% of my wealth will go to philanthropy during my lifetime or at death. My family and I will give up nothing we need or want by fulfilling this 99% pledge. Many people, including¡ªI¡¯m proud to say¡ªmy three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I¡¯ve done little of this," Warren Buffett had said in his pledge.

Also Read: 15 Books Recommended By Billionaire Warren Buffett For Investors

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