Warren Buffett announces $6 billion in donations to five foundations
NEW YORK (AP) — Famed investor Warren Buffett is donating $6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received.
Buffett said late Friday that the shares of Berkshire Hathaway will be delivered on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its stock. Those shares have a lower and easier-to-digest price tag than the company's original Class A shares, and each of the B shares was worth $485.68 at their most recent close on Friday.
The largest tranche is going to the Bill & Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation will each receive 660,366 shares.
Buffett made waves a year ago when he said he plans to cut off donations to the Bill & Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune.
Berkshire Hathaway's Class B stock has climbed 19.1% over the last 12 months, topping the broad U.S. stock market's return of 14.1%, including dividends. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. The bargain-hunting approach has helped him amass a fortune worth about $145 billion, with basically all of it in Berkshire Hathaway's stock.
'Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,' Buffett said in a statement. 'My will provides that about 99½% of my estate is destined for philanthropic usage.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
26 minutes ago
- CBS News
Negotiations between Colorado grocery workers, Safeway fail to reach resolution
Negotiations between Colorado union grocery store workers and Safeway failed to reach a resolution this week after talks broke down over pay and benefits. According to the UFCW Local 7, union president Kim Cordova and a member-led bargaining committee met with representatives of Safeway and Albertsons on Friday and Saturday, but failed to reach an agreement. "Although we made significant conceptual progress on certain items, the company refused to sign a separate tentative agreement on items, including health care," the union said in a Facebook post. "Instead, Safeway/Albertsons is insisting on wages far below competitors in the market here in Colorado and below agreements that have been reached with other local unions in the current bargaining cycle." Workers at Fort Morgan Safeway joined the growing list of employees across the state on strike this week, demanding better pay, benefits and working conditions. Elk rests with picketers at Estes Park Safeway CBS In a humourous turn of events Friday, an elk joined picketers while looking for a place to rest in the shade. The elk cow was seen hanging out with picketers at the Estes Park store under the shade of a nearby tree. The local 7 shared photos on Facebook and quipped, "A special visitor stopped by the Estes Park line today, proof that everyone loves a good picket!"
Bloomberg
28 minutes ago
- Bloomberg
Trump Tax Bill Advances in Senate After Vance Pressures Holdouts
By and Steven T. Dennis Updated on Save President Donald Trump's $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations between Vice President JD Vance and GOP leaders and Republican holdouts. The 51-49 vote, which was held open for nearly four hours, is a sign that Republican leaders are resolving the infighting over portions of the legislation and moving toward meeting a July 4 deadline the president has set for passage.
Yahoo
36 minutes ago
- Yahoo
Eric Trump Was Asked If He Will Run For President
Eric Trump Was Asked If He Will Run For President originally appeared on The Spun. Only two U.S. Presidents have been the son of a former U.S. President. Could Donald Trump's second son Eric Trump be the third to achieve the feat? It's an idea that the 41-year-old businessman appears very willing to pursue. In a recent interview with the Financial Times, Trump was asked if he would consider running for president in order to extend the family's political dynasty. Trump said that he would need to think hard about how a presidential run would impact his other family members, particularly his two kids. Ultimately, Eric Trump said that his answer is yes and he believes that he could do it - and that other members of his family could do it too. "The real question is: 'Do you want to drag other members of your family into it?'" Trump told the outlet. "Would I want my kids to live the same experience over the last decade that I've lived? You know, if the answer was yes, I think the political path would be an easy one, meaning, I think I could do it." Trump added, 'And by the way, I think other members of our family could do it too.' Eric Trump is less of a political figure than some of his siblings though. While his older brother Donald Jr. has helped run President Trump's political operation for years and his older sister Ivanka is an official advisor to the president, Eric has spent significantly more time in the business side of things. He currently serves as co-executive vice-president of the Trump Organization alongside Donald Jr. But that isn't to say that Eric Trump has no political connections at all. He has made countless speeches and campaign trips in support of his father's presidency while his wife, Lara, is a former co-chair of the Republican National Committee. All three of President Trump's eldest children are currently eligible to run for president as the minimum required age is 35. Theoretically, any or all of them could make a push to fill their father's spot in the Oval Office as early as 2028. Will Eric Trump attempt to run for President?Eric Trump Was Asked If He Will Run For President first appeared on The Spun on Jun 29, 2025 This story was originally reported by The Spun on Jun 29, 2025, where it first appeared.
