June 14 (Reuters) - Warren Buffett on Tuesday donated about
$4 billion to the Bill & Melinda Gates Foundation Trust and four
family charities, part of the billionaire's pledge to give away
nearly all of his net worth.
Berkshire Hathaway Inc, which Buffett has run since
1965, said the donation comprises about 14.4 million of its
Class B shares, whose closing price on Tuesday was $277.64.
Eleven million shares will go to the Bill & Melinda Gates
Foundation, and 1.1 million will go to the Susan Thompson
Buffett Foundation, named for Buffett's late first wife.
Another 770,000 shares will also go to each of three
charities run by Buffett's children Howard, Susan and Peter: the
Howard G. Buffett Foundation, the Sherwood Foundation and the
Since 2006, the 91-year-old Buffett has donated more than
half of his Berkshire shares, with the donations worth about
$45.5 billion at the time they were made.
Despite the donations, Buffett still owns approximately 16%
of Berkshire and controls about one-third of its voting power.
Both percentages have been fairly stable in recent years
because Berkshire has aggressively repurchased its own stock.
Buffett has built Omaha, Nebraska-based Berkshire into a
more than $600 billion conglomerate, owning dozens of businesses
such as the BNSF railroad and Geico auto insurance, and stocks
such as Apple Inc and Bank of America Corp.
He and Bill Gates also pioneered "The Giving Pledge," where
more than 200 people like Michael Bloomberg, Larry Ellison, Carl
Icahn, Elon Musk and Mark Zuckerberg committed at least half
their fortunes to philanthropy.
(Reporting by Jonathan Stempel in New York and Manya Saini in
Editing by Vinay Dwivedi and Cynthia Osterman)