Warren Buffett is the best investor in the world. I've dedicated a ton of time studying him and writing about him on this humble site.
He recently made the news again, after writing that he's contributed roughly $6 Billion in Berkshire Hathaway stock to several charitities.Those include The Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation and the Sherwood, Howard G Buffett and NoVo Foundations. He has continued his philantropic donations for 19 years now.
The fascinating part is Warren Buffett owned 474,998 A shares of Berkshire Hathaway in 2006, before he started donating to charity.
If he hadn't donated anything, he would have been worth $347 billion and be the second richest person on earthToday he owns 198,117 A shares, worth only $145 billion.
This is from the press release:
“The mathematics of the lifetime commitments to the five foundations are interesting. The schedule for annual grants was made on June 26, 2006, and has since been supplemented by significant grants to four of the five recipients. When originally made, I owned 474,998 Berkshire A shares worth about $43 billion and those shares represented more than 98% of my net worth. I have converted A shares into B shares before making contributions.
During the following 19 years, I have neither bought nor sold any A or B shares nor do I intend to do so. The five foundations have received Berkshire B shares that had a value when received of about $60 billion, substantially more than my entire net worth in 2006. I have no debts and my remaining A shares are worth about $145 billion, well over 99% of my net worth.
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. My will provides that about 99½% of my estate is destined for philanthropic usage.
The lifetime commitments expire upon my death or at an earlier time if certain conditions set forth in the 2006 letter occur. All of these conditions continue to be met.
My November 21, 2023 release set forth procedures of my will that are unlikely to be changed before my death. My then-current will becomes public upon my death.”
