Buffett gives nearly $3 billion in stock to five foundations

Warren Buffett said Thursday he gave $2.86 billion worth of his Berkshire Hathaway Inc. stock to five foundations, bringing his total annual contributions to $24.5 billion since his 2006 pledge to give the bulk of his wealth to the foundations.

This year’s dollar amount is a record for Buffett because the price of the shares of stock has risen since last year, when he donated Berkshire shares worth $2.83 billion.

The 11-year total, calculated from the price of the shares each year they were given, would be close to $35 billion at today’s price of shares in Berkshire, the Omaha-based conglomerate where Buffett serves as chairman and chief executive.

In a securities filing Thursday, Buffett said that on Wednesday he donated $2.18 billion worth of shares to the Bill & Melinda Gates Foundation; $218 million to the Susan Thompson Buffett Foundation, named for his late wife; and $153 million each to foundations headed by his three children.

Read more: http://www.omaha.com/money/buffett/buffett-gives-nearly-billion-in-stock-to-five-foundations/article_961c915f-6279-5bf1-bcbb-695f14be43ba.html