Warren Buffett donates $2.9 bn to Gates Foundation, 4 family charities

This is Buffett's latest but not largest contribution in his plan to give away his fortune.

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Though Buffett has donated 48% of his Berkshire shares, he still owns roughly 15.2% of the Omaha, Nebraska-based conglomerate and controls nearly one-third of its voting power.
Warren Buffett has donated roughly $2.9 billion of Berkshire Hathaway Inc stock to four family charities and the Bill & Melinda Gates Foundation, the latest but not largest contribution in his plan to give away his fortune.

In a statement on Wednesday, Berkshire said Buffett's 15th annual donation comprised 15.97 million Class B shares of Berkshire.

It boosted his donations to the charities to more than $37.4 billion since Buffett, who turns 90 on Aug. 30, began giving his Berkshire shares away in 2006.


Four-fifths of the donations go to the Gates Foundation. The rest goes to the Susan Thompson Buffett Foundation, named for Buffett's late first wife, and charities run by his children Howard, Susan and Peter: the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation.

Buffett's largest donation was $3.61 billion in 2019, when Berkshire's stock price was higher.

Though Buffett has donated 48% of his Berkshire shares, he still owns roughly 15.2% of the Omaha, Nebraska-based conglomerate and controls nearly one-third of its voting power.
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Forbes magazine said on Tuesday that Buffett was still worth $71.4 billion, ranking seventh worldwide.

Amazon.com Inc founder Jeff Bezos ranked first at $178.1 billion, while Microsoft Corp co-founder Bill Gates was second.

Gates, a longtime Buffett friend, ended his 16-year run on Berkshire's board this year to focus on his foundation.

Berkshire stock has significantly lagged broader markets in 2019 and 2020.
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This is in part because Buffett has not found attractive major acquisitions and financing opportunities for his $440 billion conglomerate, even during the novel coronavirus pandemic.

Berkshire owns more than 90 businesses such as BNSF railroad, Geico auto insurance and Dairy Queen ice cream.
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It also owns dozens of stocks, including more than $93 billion of Apple Inc based on regulatory filings.

Mid-Year Blues At Work? Bookmark These Warren Buffett Quotes
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If you're having a not-so-great time at work, and in life in general, don't lose hope. All great journeys have had rocky starts. And if you need some inspiration to keep going, here are some quotes from the 'Oracle of Omaha' that will lend perspective.

If you're having a not-so-great time at work, and in life in general, don't lose hope. All great journeys have had rocky starts. And if you need some inspiration to keep going, here are some quotes f..
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"Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.1."

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”


In the everyday grind, we often get consumed by the mundane, and ennui sets in. And that's when it becomes imperative to remember that the right combination of passion and energy can make a difference to the efforts we put, in work and life. And hasty, impulsive acts can have repercussions.

"Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.1."“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” In the..
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“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”


"Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
"


You might expect a billionaire like Buffett to live in a sprawling mansion in some secluded location looking out to the sea or something.


Form is temporary, class is permanent, they say. And no one better than Buffett himself who lives by this rule of life. Nothing flashy works for the billionaire investor and philanthropist. He continues to live in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500.

Also Read: Warren Buffett’s life hacks: No smartphone, 5 bottles of Coke every day, and an old Cadillac

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"You only have to do a very few things right in your life so long as you don’t do too many things wrong."


"It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction."


Even since he was young, Buffett’s not only been tactful, but an extremely intelligent and hard worker. While still in high school, he made money delivering newspapers, selling golf balls and stamps, and detailing cars, among other means.

By the time he turned 16, he had amassed the equivalent of $53,000.


Now if that's not inspiring enough...

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"The rich invest in time, the poor invest in money."


"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."


No one better than Mr. Buffett knows about the importance, and value, of money. And while it’s not unusual for billionaires to drive Rolls-Royces, Lamborghinis or Bentleys, it's not the same for the legendary investor.

Up until 2014, Buffett, who prefers vehicles by Ford and General Motors, drove an eight-year-old Cadillac.

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