Warren Buffet has been known for his hefty charitable donations. Every year he manages to break his own record. This year, he has donated around $2.86 billion worth shares to various charities. In previous years, he donated $2.8 and $2.84 billion dollars.
Gates Foundation received $2.2 billion worth of shares
Among the five foundations that achieved the donation, the Bill and Melinda Foundation is the most notable. The foundation is the largest in the whole world and tries to fight for improving the US schools, ending poverty, conquering diseases such as polio, malaria, and HIV. The foundation recently decided to offer around 100,000 chickens to the poorest ones all over the world. The idea is to provide the poor a source of income. With the chickens, they can breed them and sell to achieve the profits. The donation from Buffet is around $2.2 billion worth of shares to the Gates Foundation. This can definitely help out the cause.
The Susan Thompson Buffet Foundation received $215 million
The charity named after Warren’s late wife, the Susan Thompson Buffet Foundation received around $215 million worth of shares. The foundation focuses on college scholarships and family planning programs.
Along with that, Buffet has also given about $150 million of shares to three foundations run by his three children.
Still the third wealthiest person in the world
Though these charities have pulled down Buffet’s wealth to $65.6 billion, he is still the third wealthiest person in the world. Buffet’s wealth is about $1.3 billion more than Amazon’s Jeff Bezos.
Since the year 2010, Buffet and Gates have been encouraging billionaires to donate their fortunes to charity. The initiative, called Giving Pledge by these billionaires has encouraged 154 people to make the donations.
Buffet is going forward to achieve his promise of giving away 99% percent of his wealth in his lifetime. With the latest donations, he has given a total of $28.5 billion of his lifetime income.