Regional News
Warren Buffett makes gift to charity worth $1.43B
Published Thursday, July 02, 2009 at 07:09 PM
SEATTLE (AP) _ Billionaire Warren Buffett has donated $1.25 billion in Berkshire Hathaway Inc. stock to the Bill & Melinda Gates Foundation. The gift is the third installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation. Last year, before the recession depressed Berkshire Hathaway's stock, his gift of a similar number of shares was worth $1.8 billion, or 30 percent more. Thursday's filing with the Securities and Exchange Commission also lists donations of shares of Class B stock worth $125 million to the Susan Thompson Buffett Foundation and nearly $50 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation. Class B shares were worth $2,924 at the close of trading July 1, the day Buffett transferred their ownership. The foundation is the world's largest with an endowment of $27.5 billion as of April 2009. Omaha, Neb.-based Berkshire Hathaway owns a mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility businesses. ___
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