US Billionaire Warren Buffet Gives Out Over N1.6trn to Charity in Big Money Move

US Billionaire Warren Buffet Gives Out Over N1.6trn to Charity in Big Money Move

  • Warren Buffet announced that he is giving away shares worth over KSh 400 billion (N1,526,385,140,800) to charity
  • The move is in line with his 2006 pledge to give away 99% of his wealth
  • Buffet also announced that he is stepping down from the Bill and Melinda Gates Foundation

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Billionaire investor Warren Buffet has given over KSh 400 billion (N1,526,385,140,800) to charity.

The billionaire announced the donations on June 24, 2021, while also revealing that he would be stepping down from the Bill and Melinda Gates Foundation.

Warren Buffet
Warren Buffet hopes to give more in the future. Photo: Scott Eells.
Source: UGC

In the statement, the 90-year-old said he is giving away stock worth over KSh 400 billion (N1,526,385,140,800) from Berkshire Hathaway, his multinational conglomerate holding company.

I am halfway there

Forbes reported that the billionaire pledged to give away 99% of his wealth to charity in 2006.

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He said:

“With today’s KSh 400 billion (N1,526,385,140,800) distribution, I’m halfway there."

Forbes estimated that the businessman’s fortune is worth over KSh 10 trillion (38,159,628,520,000).

On his resignation from the Bill and Melinda Gates Foundation, Buffet said that his participation is not required for the foundation to achieve its goals.

However, he did not mention Bill and Melinda’s ongoing divorce.

Buffet's donation comes soon after McKenzie Scott, the ex-wife of Amazon founder Jeff Bezos donated over KSh 270 billion (N1,030,309,970,040) to charity.

The divorce between Bezos and Scott was finalised in 2019 after 25 years of marriage.

Bill and Melinda’s divorce

Buffet’s resignation from the Bill and Melinda Gates Foundation comes a month after the philanthropists announced they are getting a divorce.

Legit.ng earlier reported that Bill and Melinda said they are ending their 27-year marriage after realising they can no longer grow together as a couple.

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In the statement posted on social media, Bill and Melinda, who have three children together, said they mutually agreed to separate after fruitlessly working on their marriage.

However, the two pledged to continue working together on their eponymous foundation.

The statement read in part:

"We continue to share a belief in that mission and will continue our work together at the foundation."

Source: Legit.ng

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