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Warren Buffett Gives $2.9 Billion to Charity


Warren E. Buffett announced on Wednesday that he donated $2.9 billion worth of stock to nonprofit groups, as the 89-year-old billionaire investor continues to follow through on his pledge to give away nearly all his fortune to philanthropic causes by the time he dies.

Mr. Buffett said in a statement that he had given shares in Berkshire Hathaway, the conglomerate that he has run for decades, to five organizations: the Bill and Melinda Gates Foundation; the Susan Thompson Buffett Foundation, the nonprofit named for his late wife; and three groups founded by his children, Howard, Peter and Susie.

It was his 15th annual donation since 2006. Over that time, he has gifted about $37 billion worth of Berkshire stock, as measured by the value of the shares when they were donated. The stock that Mr. Buffett still holds is worth around $67 billion.

Mr. Buffett and Mr. Gates founded the Giving Pledge, a nonprofit that encourages fellow tycoons to promise to give away at least half of their wealth over their lifetimes.

In his statement, Mr. Buffett took pains to emphasize one additional point: He has not sold a share of Berkshire, nor does he intend to do so.


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