Warren Buffett donated $27 million of Berkshire Hathaway (BRKa.N) stock recently to an unnamed charity, the latest move in the billionaire investor’s plan to give away his fortune.
Giving Pledge co-founder Warren Buffett views his philanthropy the following way: “Were we to use more than 1% of my claim checks (Berkshire Hathaway stock certificates) on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others.”
Berkshire disclosed Buffett’s donation of 50 Class A shares in a recent filing with the U.S. Securities and Exchange Commission.
It is separate from Buffett’s annual gifts to the Bill & Melinda Gates Foundation and four charities overseen by his family.
They have received more than $51 billion from Buffett since 2006.
Buffett’s net worth at $118.3 billion, ranking fifth worldwide.
Buffett has said more than 99% of his net worth will go to charity. He turns 93 on Aug. 30.
Buffett’s Berkshire owns several dozen businesses including the BNSF railroad, Geico car insurance and many energy, manufacturing and retail operations.
As of June 30 of this year, Buffett’s Berkshire also owned more than $353 billion of stocks, half of which was iPhone maker Apple.