Warren Buffet is the most charitable billionaire in America, as it has emerged in the latest analysis. Mr. Buffet has topped the list; he has donated more than $46 billion since the year 2000. Most of his beneficiaries being the Gates foundation.
In the year 2006, Warren Buffet announced he would gradually be donating to charity from his vast wealth as a way of giving back. He granted class B shares belonging to Berkshire Hathaway worth $3.17 billion. Five foundations benefited from this donation. Donations summed up to $27.54 billion in just ten years total charitable contributions to these foundations. The five foundations which were beneficiaries include the Sherwood Foundation, Novo Foundation, Howard G. Buffett Foundation, Bill & Melinda Gates Foundation and Susan Thompson Buffett Foundation.
Warren Buffet who gangs up as both chairman and CEO of Berkshire Hathaway is evaluated to be worth more than $70billion and comes second among the wealthy persons; this is according to Forbes magazine. Since Warren Buffet took control of the company, he has donated more than 40% of his shares in the company, as claimed by Reuters. Even though he has been making such huge donations, he stills about 17% shares of the company.
Warren Buffet beneficiaries are organizations which majorly addresses on issues of global health, education, and poverty which are major current issues globally. In 2007, he made a bet worth $1million, arguing that an S&P 500 stock index fund would do better than Hedge funds in ten years, which he later won and he donated the money to Girls Inc. of Omaha.
In 2006, Warren Buffet pledged that he will be making annual gifts of stocks to the five foundations throughout his entire life and even after death. He has been convincing other billionaires to make such commitments through their giving pledge campaign. What a way to give back to the society that built you.