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Warren Buffett to Donate $3.6 Billion Worth of Berkshire Shares to 5 Foundations

Warren Buffett’s charitable streak is reaching new heights after the billionaire investor and chief of Berkshire Hathaway announced that he will convert 11,250 of his Class A shares into 16,875,000 Class B shares and will donate those shares to five different foundations. The shares at current value are worth about $3.6 billion.

The foundations include the NoVo Foundation, Bill & Melinda Gates Foundation, Sherwood Foundation, Howard G Buffett Foundation, and Susan Thompson Buffett Foundation.

These foundations are the usual suspect when Buffett wants to give away some of his vast fortune. Buffett has given about 45% of his 2006 holdings to these five foundations, though Buffett has never sold any shares of Berkshire.

Buffett restated that he intends to have all of his Berkshire shares given to charity through annual gifts that will be completed 10 Years post his estate settlement. In all cases, his Class A shares will be converted into Class B shares prior to the gift.

Buffett is currently the world’s fourth-wealthiest person, according to the Bloomberg Billionaires Index, with a wealth-value of about $87.3 Billion.

Looking at method Mr Warren Buffet chooses to invest, looks more identical to Baseball game. Investment isn’t about swinging at every stock in the market, rather to make investment more effective wait for the right pitch, and choose the one that right in the sweet spot. He also says, “If you manage to pick the right ball, you too can hit a home run.”

He stated that business observation is a key rule to make the perfect choice. Understanding the businesses that suits the competence of investor and analysis of what’s in and out of the court helps to plan more efficiently.

Content Writer At Industry News Report 24

Ross has studied masters in business administration from one of the elite universities. Formerly, he worked with one of the Fortune 100 companies in the U.S. his in-depth knowledge related to statistics has helped in managing the professional duties very well. In leisure time, Ross loves to play badminton. He is a pet lover and has a cute German shepherd “Tarzan.”

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