Warren Buffett said Wednesday he will donate $4.1 billion worth of Berkshire Hathaway shares to five foundations, and that he will resign as the tr

Warren Buffett gives away another $4.1 billion, resigns as trustee at Gates Foundation

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2021-06-23 13:30:07

Warren Buffett said Wednesday he will donate $4.1 billion worth of Berkshire Hathaway shares to five foundations, and that he will resign as the trustee at the Bill & Melinda Gates Foundation.

This year's donation marked the halfway point for the 90-year-old Oracle of Omaha, who in 2006 pledged to give away all of his Berkshire shares through annual gifts to Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. Back then, Buffett owned 474,998 Berkshire A shares. Today, he said he owns 238,624 shares, worth about $100 billion.

"Today is a milestone for me," Buffett said in a statement. "In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today's $4.1 billion distribution, I'm halfway there."

Buffett's resignation as Gates Foundation trustee comes as the charitable organization faces a tumultuous time with the divorce of its two founders.