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Thursday , 24 August 2017
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Warren Buffet donates USD3.17 Billion to Charity

One of the World’s richest and leading Philanthropist, Warren Buffet yet again donated a huge sum of money overnight. The amount donated by him this time was USD 3.17 Billion which roughly equates to Rs.20,000 Crores INR. The donation of $3.17 billion was by way of stocks of Berkshire Hathaway Inc stock to the Bill & Melinda Gates Foundation and four family charities, his largest contribution in a more than decade-long plan to give away his fortune.

Buffet so far had donated $27.54 billion in donations since 2006 to the five charities, including roughly $21.9 billion to the Gates Foundation and would easily classify as its biggest donor.

Out of the $3.17 billion donation, a huge chunk is set to go to The Gates Foundation which is set to receive about $2.42 billion that would be spent on its core interest areas of health, poverty and education. Buffet still owns 17% shares in Berkshire Hathaway despite giving away m0re than 40% of his holdings. 

Buffett also donated to the Susan Thompson Buffett Foundation, named for his late first wife, and the Howard G. Buffett, Sherwood and NoVo Foundations, respectively overseen by his children, Howard, Susan and Peter.

Buffet remained the world’s fourth-richest person even after donating such huge sums just behind Bill Gates, Jeff Bezos an Amancio Ortega, according to Forbes magazine.

 

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