⚡ Get All Content for 20% Off ⚡

Warren Buffett Donates $4.1 Billion, Steps Down as Trustee of Gates Foundation The donation, in the form of annual gifts, will go to five different foundations.

By Euni Han

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Daniel Zuchnik | Getty Images

The Chairman and CEO of Berkshire Hathaway is donating $4.1 billion worth of Class A shares to five foundations, according to CNBC.

In a statement, Buffett says it's part of the plan he announced years ago.

"Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today's $4.1 billion distribution, I'm halfway there."

Related: Warren Buffett's 3 Top Pieces of Advice for Entrepreneurs

The donation, in the form of annual gifts, will go to the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, NoVo Foundation and the Bill & Melinda Gates Foundation.

Berkshire Hathaway Class A shares are currently trading above $416,000, with Buffett saying his 16 annual contributions to five foundations have a reported worth of $41 billion when disbursed.

The 90-year old Oracle of Omaha also says he's stepping down as trustee of the Bill & Melinda Gates Foundation amid a tumultuous divorce between the couple. But his departure won't affect the foundation's success.
"For years I have been...an inactive trustee at…the Bill and Melinda Gates Foundation," Buffett said. "And my physical participation is in no way needed to achieve these goals."

Related: Warren Buffett Invests $500 Million in Brazilian Neobank Nubank

The billionaire investor also maintains a positive outlook.

"I'm optimistic. Though naysayers abound — as they have throughout my life — America's best days most certainly lie ahead," he explained. "Philanthropy will continue to pair human talent with financial resources. So, too, will business and government. Combined, they will make the world a better place — a much better place — for future generations."

The billionaire has an estimated net worth of $96 billion according to Forbes.

Buffett still lives in the same Omaha, Nebraska house he bought for $31,500 in 1958.

Related: Warren Buffett's Berkshire Hathaway 'Broke' Nasdaq Recently — Here's What You Need to Know

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.