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Warren Buffett Donates $2.9 Billion Worth of Berkshire Stock to Charity

Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett (Trades, Portfolio) announced this week he donated approximately $2.9 billion in his conglomerate's common stock to five charities, including the foundation established by Bill Gates (Trades, Portfolio).


According to GuruFocus Real-Time Picks, a Premium feature, the transaction reduced Buffett's holding in Berkshire Class A stock to 248,734 shares.

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29e48e719aefc12cc978330f2f0dcef3.png

Transaction details

The Omaha, Nebraska-based conglomerate announced in a press release that Berkshire contributed 15,971,345 Class B shares to five foundations: Bill and Melinda Gates Foundation, Susan Thompson Buffett Foundation, The Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

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2835f378c09b0fd69053036aaa985b23.png

Buffett initiated the annual charity donations in June 2006, increasing the donations starting in August 2012. For each donation, the Oracle of Omaha converts a significant amount of Berkshire Class A shares into Class B shares. The donations during the 15-year program have reduced Buffett's holding of Class A shares from 474,998 to 248,734.

See also

Buffett and co-Berkshire manager Charlie Munger (Trades, Portfolio) developed a four-criterion investing approach to finding good companies at fair prices: understandable business, favorable long-term prospects, competent management and attractive prices. Specifically, companies should have high business predictability, strong profit margins, no meaningful long-term debt and low price-earnings-to-growth ratios.

Disclosure: No positions.

Read more here:

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  • 4 High-Quality Companies With Low Shiller Price-Earnings Ratios

  • Warren Buffett's Market Indicator Nears 150% Ahead of Independence Day



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This article first appeared on GuruFocus.


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