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7/8/2020, 1:40 PM (Source: TeleTrader)
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Buffett donates $2.9 billion to philanthropic causes

Berkshire Hathaway CEO and once world's richest man, Warren Buffett, donated $2.9 billion to philanthropic causes since the start of 2020, CNBC reported on Wednesday. Buffet distributed the funds in the form of Berkshire Hathaway class B shares to five foundations he donates to annually as he promised earlier to give away at least 99% of his wealth before he dies.

The five foundations Buffett donated to are the Bill and Melinda Gates Foundation, the Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation. The last four foundations were created by Buffett's family members while the final three on the list are run one each by his three children.

The latest donations bring Buffett's total philanthropic givings to over $37 billion since 2006. Buffett and Bill Gates started the Giving Pledge in 2010 to get billionaires to promise to give most of their wealth to charity.

Breaking the News / VP