Buffett Gives 2,500 Shares to 4 Charities
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OMAHA — Warren Buffett, the billionaire chairman and chief executive of Berkshire Hathaway Inc., said Monday that he and his wife, Susan, have donated 2,500 shares, worth about $134 million at current prices, of the company’s Class A common stock to four unnamed charities.
In a rare announcement, Buffett said he and his wife disclosed the donations to avoid confusion that any selling of stock was involved, noting that on other occasions, the media reported gifts as sales. The two have never sold any Berkshire shares, the statement said.
Buffett’s assistant, reached by telephone, declined to comment on which organizations were receiving the stock.
On the New York Stock Exchange, Class A shares were going for $53,400 each, well below the March high of $81,000.
Buffett, who turns 70 next year, is recognized as one of the world’s greatest investors. Berkshire Hathaway and its subsidiaries engage in a number of businesses, including insurance firms Geico Corp. and General Re.
Berkshire also owns stakes in a number of large companies such as Coca-Cola, American Express and Gillette.
Buffett has also auctioned ties, books and even an office wastebasket to raise funds for worthy causes.
But he believes in a “meritocracy” or a society in which those controlling resources have earned their positions.
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