OMAHA, Neb. (AP) — Billionaire Warren Buffett has donated $3.2 billion worth of his Berkshire Hathaway stock to five charities as part of his plan to gradually give away his fortune.
Buffett disclosed the annual gifts Monday. The biggest block of shares went to the Bill & Melinda Gates Foundation. Buffett also gave stock to his own foundation and to the foundations run by each of his three children.
He converted 12,500 Class A shares of Berkshire stock to 18,750,000 Class B shares, then donated 18,628,189 shares to the five foundations.
Buffett has been giving away blocks of Berkshire stock since 2006. Buffett's gifts were worth a total $27.54 billion based on Berkshire's share price when the gifts were given.