The mega-investor announced this Wednesday (23), that will donate another $4.1 billion in shares of Berkshire Hathaway (BERK34) for five foundations and who resigned as administrator of the Foundation Bill & Melinda Gates.
The donation marks the halfway point for the 90-year Omaha Oracle, which already donated half of his fortune in order to philanthropy.
In 2006, Buffett pledged to distribute all of his Berkshire shares through annual donations the Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G Buffett Foundation, and NoVo Foundation.
At that time, he owned 474,998 shares of Berkshire A. Today, he said he owns 238,624 shares, worth about $100 billion.
“Today is a milestone for me,” Warren Buffett said in a statement. “In 2006, I promised to distribute all of my Berkshire Hathaway stock – more than 99% of my net worth – to philanthropy. With today’s $4.1 billion distribution, I’m halfway there. ”
“The easiest action in the world is to donate money that will never be of any real use to you or your family. The act of giving is painless and can reflect a better life for you and your children. The second stage of disbursing large sums is more challenging, especially when the goal is to focus on critical issues that have long been difficult to overcome.”
“Over many decades I have accumulated an almost incomprehensible sum simply by doing what I love to do. I didn’t make any sacrifices or my family. Compound interest, long term, wonderful partners and our incredible country made the magic work. Society has a use for my money; I do not.”
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Resignation from the position of trustee of the Bill & Melinda Gates Foundation
Buffett also announced that left the position of curator at the Bill & Melinda Gates Foundation.
“I am resigning from this position, as I have done on all non-Berkshire corporate boards. My goals are 100% in line with those of the foundation, and my participation is by no means necessary to achieve these goals,” he said.
Buffett’s resignation as administrator of the Gates Foundation comes as the charitable organization faces a tumultuous time with the divorce of its two founders.
The program encourages the richest to donate more than half of their wealth to charity still alive.