February 25, 2021

Warren Buffett donates 3,600 million dollars in shares to charitable groups

The veteran US investor Warren Buffett donated 3.6 billion dollars in shares of his firm, Berkshire Hathaway, Monday to five charities as part of a long-term plan to allocate most of his wealth to philanthropy.

According to the firm in a press release, the Wall Street guru, 88, has distributed that large donation between the foundation of Bill Gates and four others who are controlled by their relatives: the Susan Thompson Buffett, the Sherwood, the Howard G. Buffett and the NoVo.

Buffett pledged in 2006 to donate almost all of his Berkshire Hathaway shares to philanthropy, much to the founding of the Microsoft creator, and since then has allocated to the five groups about 34,000 million dollars, representing 45% of the size of your business at that time.

The so-called "oracle of Omaha", which has never sold its shares, plans to continue making these annual "gifts" to the five foundations up to ten years after his death and to distribute his inheritance, as anticipated in the statement.

The multimillionaire president of Berkshire Hathaway follows an ascending tendency in his donations, since last year he gave titles by value of 3.400 million and the previous one were 3.170 million.

The financial investment firm that Buffett founded and still manages today is one of the most important conglomerates in the country and has large holdings in some of the main Wall Street companies, such as Apple, Wells Fargo, Walmart, American Express or Coca-Cola .

Only last year, Berkshire had an operating profit of 24,800 million dollars, a record in its history, so many continue to observe the movements of the octogenarian businessman, and those of his partner, Charlie Munger, 95, who is vice president of the signature.

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