Warren Buffett Makes Enormous Donation to Gates Foundation

Warren Buffett donated $2 billion to the Bill and Melinda Gates Foundation

   

Warren Buffett Makes Enormous Donation to Gates Foundation

Warren Buffett1 Warren Buffett Makes Enormous Donation to Gates FoundationBerkshire Hathaway (BRK.B) CEO Warren Buffett, donated $2 billion to the Bill and Melinda Gates Foundation, on Monday.

The donation is Warren Buffett’s annual gift to the foundation and beats his donation last year of $1.8 billion. The $2 million was donated by Buffett giving about 17.5 million Berkshire Hathaway Class B shares to the foundation, reports Bloomberg.

“The truth is I have never given a penny away that had any utility to me,” Buffett told Bloomberg. “For millions of people who aren’t rich, donating money really means they’re giving up a movie, or a dinner out, or if it’s a larger sum, maybe a trip to Disneyland.”

In 2006, Buffett pledged to give about $31 billion to the Gates Foundation. He also advises other wealthy Americans to donate most of their fortunes, through the Giving Pledge commitment.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/warren-buffett-makes-enormous-donation-to-gates-foundation/.

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