- Warren Buffett, the world's fourth wealthiest person, will be giving out $3.6 billion to five charities
- Out of the five benefiting charities, three of them are run by his children, while one is named after his wife
- Buffett's donations to charities since he started in 2006 is worth $34 billion
The world’s fourth wealthiest person, Warren Buffett, will be donating his shares which are worth $3.6 billion from Berkshire Hathaway conglomerate to five different charities.
According to CNN, a charity run by Microsoft (MSFT) co-founder Bill gates and his wife Melinda Gates will be one of the organisations that would benefit.
It should be noted that Buffet’s net worth is more than $87 billion according to wealth indexes by Bloomberg and Forbes.
Buffett is also converting some of his A shares of Berkshire Hathaway (BRKA) into B shares (BRKB) of the company.
Other beneficiaries of the donation are Sherwood Foundation, Howard G Buffett Foundation, NoVo Foundation, and Susan Thompson Buffet Foundation.
Three out of the charities are run by Buffett’s children: Susan, Howard, and Peter and their families.
It was reported that the wealthy man has been donating a portion of his shares to charity since 2006, putting a value of his gifts at $34 billion.
In a related event also, the Bill and Melinda Gates said it is working on selling its 60 million shares by 2020 to donate to charity.
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In total, there are 705 billionaires in the US, 285 in China, 146 in Germany, 102 in Russia, and 97 in the UK.
The total worth of US billionaires is more than the billionaires of eight highest-ranking countries of China, Russia, Germany, United Kingdom, Switzerland, Hong Kong, India, and Saudi Arabia put together.
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