Warren Buffett to Donate Berkshire Shares

Last month, the world’s fourth richest man continued his effort to give away over 99% of his fortune to charity by donating $3.6 billion in shares of Berkshire Hathaway, according to an article inForbes.

Buffett is a cofounder of The Giving Pledge, which “asks billionaires to commit at least 50% of their wealth to philanthropy, and in 2006 promised to donate all of his Berkshire Hathaway stock over time. “Much of Buffett’s largess has been directed at good buddies Bill and Melinda Gates’ foundation, which is the world’s largest private charitable foundation with $46.8 billion in assets (not including Buffett’s latest gift),” the article reports.

The balance of Buffett’s donations will go the Susan Thompson Buffett Foundation (in memory of his late wife), the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

“Even after Buffett completes the massive gift,” the article reports, “the shrewd investor will still keep his spot among the world’s richest.”