According to his company statement, Warren Buffet gave away $3.17 billion in shares of his holding company, Berkshire Hathaway to charity on Monday.
The stock went to the Bill & Melinda Gates Foundation, as well as four foundations with ties to the Buffett family: Buffett’s education-focused charity, which is named after his late wife Susan; the Sherwood Foundation, which is chaired by their daughter; the Howard G. Buffett Foundation, which is led by his son; and the NoVo Foundation, which has Buffett’s youngest son Peter at the helm.
Back in 2006, Buffett announced plans to gradually donate all his Berkshire Hathaway shares and in 2010, Buffett launched The Giving Pledge with Bill Gates. The initiative encourages the world’s billionaires to dedicate the majority of their wealth to philanthropic causes. As of May, 170 people had signed the pledge across 21 countries.