Warren Buffett, the world’s most favoured investor, has donated US$6 billion (A$9.2 billion) of Berkshire Hathaway shares to five charities.
The announcement was made by the diversified investment company that the 94-year-old has run since 1965.
The donation of about 12.36 million Berkshire Class B shares lifted Buffett's donations above $60 billion since he started giving away his fortune in 2006.
He donated:
- 9.43 million shares to the Gates Foundation
- 943,384 shares to the Susan Thompson Buffett Foundation; and
- 660,366 shares to charities led by his children Howard, Susie, and Peter: the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation.
Buffett still owns 13.8% of Berkshire's stock.
His $152 billion net worth prior to Friday's donations made him the world's fifth-richest person, according to Forbes magazine.
Known as the Oracle of Omaha for his extraordinary investment skills and success and his longtime home town, Buffett said the foundation had received Berkshire shares worth substantially more than his net worth in 2006.
He had not sold any A or B shares, and had no plans to sell his remaining A shares that were worth about $145 billion, more than 99% of his net worth.
“Nothing extraordinary has occurred at Berkshire. A very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,” Buffett said in a news release.
He changed his will last year, designating 99.5% of his remaining fortune after his death to a charitable trust overseen by his children.
Buffett plans to step down by the end of this year as CEO of Berkshire Hathaway, and billionaire investor Greg Abel, who is vice chairman, will be his replacement.
Berkshire Hathaway's class B shares (NYSE: BRK.B) rose 63 cents (0.13%) to $485.68 on Friday, capitalising the company at $1.05 trillion.
