Warren Buffett donation plans for 2019 will have the investor donating $3.6 billion to five different foundations.
The Warren Buffett donation will have him sending the majority of the $3.6 billion over to the Gates Foundation. This is a charity organization that is run by Microsoft (NASDAQ:MSFT) founder Bill Gates and his wife Melinda Gates.
The remaining funds from the Warren Buffett donation is being split between the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.
It’s worth nothing that these Warren Buffett donations mean that his money won’t be moving outside his own circle of influence. The Susan Thompson Buffett Foundation is one that bears the name of deceased wife. As for the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation, those are all charities that have Warren Buffett’s children at their heads, reports Forbes.
This is far from the first time that a massive Warren Buffet donation has been made. He did the same back in 2018 when he donated $3.4 billion to charities. Just like with this year, the Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) CEO donated that money between the same five charities in 2018.
The Warren Buffett donation comes in the form of Class B shares of Berkshire Hathaway stock. Buffet will be obtaining these shares by converting his Class A Shares of stock into Class B shares. This is the same way the donations were taken care of in 2018, CNNBusiness notes.
As of this writing, William White did not hold a position in any of the aforementioned securities.