Noted billionaire & philanthropist, Warren Buffett, has donated $1.25 billion in Berkshire Hathaway Inc. stock to Bill & Melinda Gates Foundation. The act did not come as a surprise as he had pledged to give away 85% of his fortune to the Gates Foundation. The amount, although, did not make up that figure yet, but summed up to about 3.3% of his net worth of 37 billion dollars in his third installment, the preceding installment being $1.8 billion dollars. The Securities and Exchange Commission has listed filings that show donations of shares of class B stock worth $125 million to the Susan Thompson Buffett Foundation, and about $50 million each to the Sherwood Foundation, the Howard G. Buffett Foundation as well as the NoVo Foundation.
The day Buffett transferred their ownership, the Class B shares were worth $2,924 at the close of trading July 1. The world’s largest Foundation has an endowment of $27.5 billion as of April 2009.