Billionaire Warren Buffett Donates Another $2.9 Billion to Charities

Billionaire Warren Buffett Donates Another $2.9 Billion to Charities
Bill Gates and Warren Buffet

Billionaire Investor Warren Buffett donated another $2.9 billion worth of stock to five foundations as part of his plan to gradually give away all his fortune, MarketWatch reports.

Buffett said in a statement on Wednesday 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 to the foundations run by each of his three children.

Altogether, he donated nearly 16 million Class B shares of Berkshire Hathaway. That brings his total philanthropic donations to more than $37 billion since 2006, according to the report.

The 89-year-old CEO plans to eventually give all of his Berkshire stock to charity. After his death, the remaining shares will be distributed to various charities. After his latest donations, Buffett held 248,734 Class A Berkshire shares worth roughly $67.6 billion.