Buffett donates record $2.84 billion to Gates, family charities

[mahatmakanejeeves]

Source: Reuters

US | Mon Jul 6, 2015 12:46pm EDT
By Jonathan Stempel

Warren Buffett on Monday donated about $2.84 billion of Berkshire Hathaway Inc stock to the Bill and Melinda Gates Foundation and four family charities, as part of the billionaire' s plan to give away nearly all of his wealth.

The 10th annual donation, Buffett's largest, comprised 20.64 million Class "B" shares of Berkshire, and increased Buffett's total contributions to the charities to more than $21.5 billion.

The Gates Foundation, which focuses on improving education and health and reducing poverty, receives the biggest share.

Also receiving donations are the Susan Thompson Buffett Foundation, named for Buffett's late first wife, and the Howard G. Buffett, Sherwood and NoVo Foundations, respectively overseen by his children Howard, Susan and Peter.
....

(Reporting by Jonathan Stempel in New York; Editing by Richard Chang)

Read more: http://www.reuters.com/article/2015/07/06/us-buffett-charities-idUSKCN0PG1WT20150706

[SoapBox]

1. Phewwww...$2.84 billion.

Ya it's in stock...but I'm scrapping to donate $10 to Bernie.

[Ed Suspicious]

2. I think capitalists on his level are obscene, but I can get behind him giving it all away.

[bucolic_frolic]

3. Did Warren Ever Explain

why he's piggybacking on the Gates Foundation? I know they're friends, but
billionaires are not usually lacking for original ideas.

[Paulie]

4. Yes he did an interview on NPR

About a decade ago.

[TexasBushwhacker]

5. He did it because he thought they were doing a great job.

He thought setting up his own foundation would be redundant. He has been quite generous to his children as well. They all run their own foundations.

[davidpdx]

7. If I had to guess it would be because the Gates Foundation already has

set up all the mechanisms to process grant requests and disperse the grants and their goals are very similar.

[24601]

6. Warren, how about a tiny $500 Million donation to the "24601 Foundation"? It supports great causes

like supporting 240601's personal lifestyle. It's kinda just like ******* ****** *******, except that I'll be transparent, really, I promise.