Warren Buffett donates $3.4 billion to Gates' and family charities

[Chris Lawrence]

This is just a feel good story I saw coming out of Reuters reported on the internet. I do believe some of this money will filter down to Thailand and many needy communities around the world. I wonder what tax concessions are given for such a donation? I thought this would be good for international news section, so I leave it up to the mods to leave it here or move it to a more appropriate place on TV. 

 

By Jonathan Stempel

(Reuters) - Warren Buffett has donated roughly $3.4 billion (2.57 billion pounds)of Berkshire Hathaway Inc (BRKa.N) stock to five charities, the billionaire's largest contribution in his longstanding plan to give away his fortune.

Buffett's 13th annual donation comprised about 17.7 million Class "B" shares of Berkshire, valued at $192 each as of Monday's market close.

The largest block went to the Bill & Melinda Gates Foundation. Buffett's own foundation, named for his late first wife Susan, and charities run by his children Howard, Susan and Peter received the rest.

Buffett, 87, has since 2006 made more than $30.9 billion in donations to the charities, including roughly $24.5 billion to the Gates Foundation.

His largest previous annual donation had been $3.17 billion, in 2017.

Buffett still owns roughly one-sixth of Berkshire, the Omaha, Nebraska-based conglomerate he has run since 1965, despite giving away 43 percent of the shares he owned in 2006.