Buffett Donates BH Shares Valued at $3.17 Billion to Five Foundations
WARREN BUFFETT | July 16, 2017
According to the Omaha-based conglomerate, Buffett, a co-founder and signatory of the Giving Pledge, converted 12,500 of his Class A shares into 18.75 million Class B shares and donated more than 18.62 million of the latter, valued at $3.17 billion, to the Bill & Melinda Gates Foundation and four foundations established by his late wife and children: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation. With the gift, Buffett, who has never sold any of his Berkshire stock, has given more than 40 percent of his 2006 holdings in the conglomerate to the five foundations. The total value of those gifts (including this year's), as calculated from the share price at the time the A shares were converted, is $27.54 billion.