Warren Buffett donates $ 1.6 billion to the Gates Foundation

    Billionaire Warren Buffett donated $ 1.6 billion in shares of Berkshire Hathaway to the Bill and Melinda Gates Foundation. This is the largest contribution he made as part of a promise to donate most of his fortune to charity.

    A notice to the US Securities and Exchange Commission (SEC) announced the transfer of 500,000 Class B shares at Thursday's exchange rate of $ 3,208. On that day, they grew by $ 35.

    Buffett will celebrate its 76th anniversary next week. In June, he promised to transfer to the charity fund 85% of his fortune, amounting to $ 44 billion. So far, not a single person in history has donated such large sums.

    About 70% of the funds will be transferred to the Gates Foundation, whose goals are the fight against disease, poverty and help improve education.

    Gates, chairman of the Microsoft board of directors, is also the director of Berkshire Hathaway, an investment and insurance company run by Buffett since 1965, when the billionaire was still a poor textile manufacturer. Gates and his investment company Cascade Investment together own Berkshire shares for $ 419 million.

    In June, Buffett donated 10 million Class B shares to the Gates Foundation, and another 2.05 million to four charities.

    Berkshire owns large blue-chip stakes, including American Express, Coca-Cola and Wal-Mart Stores, as well as 50 other large firms, Reuters said.

    A source

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