Buffet Breaks Own Record at Giving Gifts

By IVCPOST Staff Reporter

Jul 08, 2013 10:06 PM EDT

Warren Buffett has contributed a record US$2 billion to the Bill and Melinda Gates Foundation. Warren Buffet saw his fortune swell this year with a surge in his company's, Berkshire Hathaway Inc.,  shares. His stock has climbed up to 29% this year trading around US$115.42 as of Monday.

According to a statement, Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, gave around 17.5 million Class B shares in his yearly gift to the foundation Bill Gates, co-founder of Microsoft Corp., created. This donation surpassed his previous record stock grant of $1.8 billion to the same foundation in 2008.

Buffett also made a donation to the Susan Thompson Buffett Foundation of around US$1.75 million Class B shares. The foundation was formed by the investor and was named after his first wife. The Susan Thompson Buffett Foundation supports education and other causes.

Buffett, aside from being the world's third-richest man, is a trustee of the Bill and Melinda Gates Foundation. He currently has a net worth of around $61 billion, according to a ranking of the richest people, the Bloomberg Billionaires Index. He has encouraged charitable giving among the wealthy through the Giving Pledge initiative.

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