Warren Buffett confers upon Gates Foundation stocks worth $1.25 billion

Noted billionaire & philanthropist, Warren Buffett, has donated $1.25 billion in Berkshire Hathaway Inc. stock to Bill & Melinda Gates Foundation. The act did not surprise as he had pledged to give away 85% of his fortune to the Gates Foundation. Although the amount 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 as well as the NoVo Foundation.

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The day Buffett transferred their ownership, the Class B shares were worth $2,924 at the close of July 1. The world’s largest Foundation has an endowment of $27.5 billion as of April 2009.
[SeattleTimes]