Berkshire Hathaway Chairman and CEO Warren Buffett may be as wealthy as Uncle Scrooge, but he's hardly as stingy. The Oracle of Omaha announced today his annual stock option contributions to five separate charities, including four connected to family members.

Foundation

Shares

Bill and Melinda Gates Foundation

17,458,431

Susan Thompson Buffett Foundation

1,745,843

Howard G. Buffett Foundation

1,222,085

NoVo Foundation

1,222,085

Sherwood Foundation

1,222,085

Source: Berkshire Hathaway press release. 

At today's prices, the total 22,870,529 Class B shares amount to around $2.64 billion worth of donations. By far the largest recipient, the Bill and Melinda Gates Foundation, will receive approximately $2 billion in shares. Class B shares are trading around $115 as of this writing.


The late Susan Thompson Buffett was Buffett's first wife, and Howard is his eldest son. The NoVo Foundation's mission is to "foster a transformation from a world of domination and exploitation to one of collaboration and partnership." Jennifer and Peter Buffett are the co-chairs of the NoVo Foundation; Peter Buffett is the youngest son of Warren Buffett. The Sherwood Foundation "promotes equity through social justice initiatives enhancing the quality of life in Nebraska." The Sherwood Foundation was formerly the Susan A. Buffett Foundation; Susan A. Buffett is Warren Buffetts' daughter.

Last year, Buffett announced plans to double the amount of stock he gives to his children's foundations because he has been pleased with the work they've done.

Warren Buffett is also a signatory of the "Giving Pledge," making him one of around 40 billionaires to pledge as least half his overall wealth to charity.

-- Material from The Associated Press was used in this report.

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The article Buffett Gives $2.6 Billion in Stock to 5 Charities originally appeared on Fool.com.

Fool contributor Justin Loiseau owns shares of Berkshire Hathaway. You can follow him on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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GMG..

All the tripe that Buffett is not going to leave anything for his children is just that, tripe!.....He has, and is, loading them up with monies via supposed charities. What a joke that the news organizations play along with this nonsense. His kids are multimillionaires ONLY because of his funneling monies to them.

July 09 2013 at 12:59 AM Report abuse rate up rate down Reply