Warren Buffett Philanthropy

Warren Buffett is known for using his ability to reallocate capital to make successful investments. Until recently, he did not participate in philanthropy, wishing to wait until death to make his bequests. After the death of his wife, he began to give.

• Warren Buffett earned the #3 ranking on BusinessWeek’s annual ranking of Top 50 U.S. Philanthropists when his wife Susan passed away and left $2.5 billion in Berkshire Hathaway stock to the Buffett Foundation. The Buffett Foundation was renamed to the Susan Thompson Buffett Foundation, and supports reproductive choice and nuclear weapons reduction. Warren Buffett has pledged 1 million class B shares of Berkshire Hathaway for additional funding.
• Buffett chose to give the bulk to his estate, 10 million class B shares of Berkshire Hathaway, to the Bill & Melinda Gates Foundation. He believes that Bill and Melinda Gates are most able to allocate the funds efficiently. The Gates Foundation has distributed most of its money to world health programs and U.S. education. Buffett’s gifts will continue only as long as either Gates is living and active in the Foundation’s work.
• The Susan A. Buffett Foundation, Howard G. Buffett Foundation, and NoVo Foundation will each receive 350,000 class B shares of Berkshire Hathaway. This gift will allow each foundation to expand its work.

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