Legendary investor Warren Buffett is the world’s sixth-richest person. He is also its biggest philanthropist.
This week the “Oracle of Omaha” donated $4.6 billion of stock from Berkshire Hathaway, extending his long-running tradition of summer gifts.
Just how much has Buffett given to philanthropy? Since 2006, he has given away $51.5 billion, catapulting to the top of the Forbes 2023 list of America’s most generous philanthropists.
Even after giving away tens of billions, Forbes says Buffett – which estimates his wealth at over $100 billion – is more than twice as rich as he was 17 years ago, thanks to a 450% increase in Berkshire Hathaway shares.
“Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,” Buffett, 92, said in a press release, speaking of his Omaha, Nebraska conglomerate that has businesses spanning industry sectors from insurance to retail.
Buffett teamed up with Bill Gates and Gates’ ex-wife Melinda French Gates to create the Giving Pledge and vowed to donate nearly all of his fortune to charity.
Who are the lucky recipients of Buffett’s latest largesse?
- The Bill and Melinda Gates Foundation got $3.5 billion worth of Berkshire Hathaway shares.
- The Susan Thompson Buffett Foundation, founded by his late wife, got $350 million worth.
- The foundations of his three children pocketed $250 million apiece.
Buffet’s not done yet. He has billions more stowed in five foundations and he has his 15% stake in Berkshire Hathaway, one of the world’s most valuable companies.
“My will provides that more than 99% of my estate is destined for philanthropic usage,” Buffett said.
Forbes estimates Buffett’s total donations could eventually exceed $160 billion.
