Billionaire investor; Warren Buffett and brain behind global conglomerate; Berkshire Hathaway announced another charity donation of 4.1 billion United States Dollars (442.18 billion Kenyan Shillings). He also made it known that he is stepping down as an inactive trustee of the Bill and Melinda Gates Foundation.
In a statement released on Wednesday the 23rd of June 2021 the Billionaire stated that he will be giving away 4.1 billion United States Dollars (442.18 billion Kenyan Shillings) in Berkshire Hathaway stock to the total of five (5) foundations he has donated to every year since 2006. The five foundations are the Gates Foundation, the Howard G. Buffett Foundation, the Susan Thompson Buffett Foundation, the Novo Foundation, and the Sherwood Foundation.
The 90 year old businessman made it known that he will be resigning as an “inactive” trustee at the Gates Foundation stating that his “physical participation is in no way needed to achieve” the goals of the foundation.
The world renowned investor did it not make any mention of the Bill Gates and Melinda Gates high profile divorce that shocked the world. He however said his decision to step down is coming after a similar decision he made to resign from all corporate boards apart from the board of Berkshire where he is still the Chief Executive Officer (CEO) and Chairman.
According to reports, the Billionaire now owns 238,624 shares of Berkshire Hathaway. His shares are worth 100 billion United States Dollars (around 10.79 trillion Kenyan Shillings) and put him around the halfway point of his promise to donate all of the 474,998 shares that he owned in June 2006
In the words of the Billionaire; “Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares—more than 99% of my net worth—to philanthropy. With today’s $4.1 billion distribution, I’m halfway there.”
At the time of giving Warren Buffett’s Berkshire stock donations had a total value of 41 billion United States Dollars (4.42 trillion Kenyan Shillings). This is figure however does not include his donations made on Wednesday the 23rd of June 2021 as it is yet to reflect on the official website of the Securities and Exchange Commission. The total of the Billionaire’s fortune is at around 105 billion United States Dollars (11.33 trillion Kenyan Shillings) according to Forbes.
Warren Buffett is however not the only major billionaire who has made donations in the month of June. Philanthropist; MacKenzie Scott who recently divorced the founder and Chief Executive Officer (CEO) of Amazon; Jeff Bezos also announce led a fresh round of donations that got up to around 2.7 billion United States Dollars (around 291.46 billion Kenyan Shillings).
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