Warren Buffett donated 50 Class A shares of Berkshire Hathaway stock worth $27 million to an unnamed charity this week
ByJOSH FUNK AP Business Writer
August 17, 2023, 11:21 AM
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview in Omaha, Neb., May 7, 2018. Berkshire Hathaway said Saturday, Aug. 5, 2023, that its profits surged to hit $24,755 per Class A share. A year ago, the Omaha, Nebraska-based company recorded a loss of $43.6 billion, or $29,633 per Class A share, when the value of its biggest investments fell. (AP Photo/Nati Harnik, File)
The Associated Press
OMAHA, Neb. -- Investor Warren Buffett has donated Berkshire Hathaway stock worth $27 million to an unnamed charity.
Buffett disclosed the gift of 50 Class A shares of Berkshire stock in a filing with the Securities and Exchange Commission late Wednesday.
This donation is in addition to Buffett's annual gifts to the Bill & Melinda Gates Foundation and four smaller foundations run by his family that he has been making since 2006. Buffett has said that more than 99% of his nearly $118 billion fortune will eventually go to charity, and he has gradually been giving it away over time. He has given those five foundations stock worth roughly $50 billion over the years.
Buffett didn't identify the charity that received his latest donation this week.
Even after this latest donation, Buffett still holds 218,237 Class A shares of Berkshire stock, which are the most expensive shares on the market. Thursday morning, the shares were up $2.183 to sell for $539,680 apiece.
Berkshire does have a more affordable Class B share that offers a fraction of the voting rights of the A shares. Those Class B shares were selling for $355.95 Thursday morning.
Buffett's Omaha, Nebraska-based Berkshire Hathaway conglomerate owns dozens of businesses including Geico insurance, BNSF railroad and several major utilities. It also owns an eclectic assortment of manufacturing and retail companies. In addition to the companies it owns outright Berkshire holds a $350 billion stock portfolio with major stakes in Apple, Bank of America, Coca-Cola and American Express, among other stocks.
