After Kenya's 20 Million Surprise, World's Richest Investor Gives Away 6 Billion

Warren Buffett donates 6 billion in Berkshire shares to five foundations, continuing his multi-decade commitment to large-scale philanthropy.

Kenya recently received 20 million from Buffetts foundation to support its struggling public health system amid declining global aid.

Buffett, 94, plans to give away 99.5 of his wealth and has already donated shares worth more than his 2006 net worth.

More than a month after giving the Kenyan government a Ksh3.8 billion 20 million grant, Warren Buffett, the worlds richest investor , has made another major donation, this time giving away about 6 billion worth of Berkshire Hathaway shares to five charitable foundations. Its the latest chapter in his long history of giving.

The 94-year-old investor, who is currently the tenth-richest person in the world, said he plans to donate a total of 12.35 million Class B shares. Most of those shares, around 9.43 million, will go to the Bill Melinda Gates Foundation Trust, while the rest will be split among four other foundations: the Susan Thompson Buffett Foundation, named after his late wife, and the Sherwood, Howard G. Buffett, and NoVo foundations, each run by one of his three children.

Warren Buffett has spent nearly 20 years giving away most of his fortune. Since 2006, hes donated Berkshire Hathaway shares valued at around 60 billionmore than he was worth when he first began this annual giving tradition. The five foundations have received Berkshire B shares that had a value when received of about 60 billion, substantially more than my entire net worth in 2006, he noted.

His commitment to giving isnt new. In 2010, Buffett joined forces with Bill Gates and Melinda French Gates to launch the Giving Pledge, encouraging fellow billionaires to donate the majority of their wealth to good causes. Today, Buffett says he has no debts and that his remaining Berkshire A shares are worth roughly 145 billion, over 99 percent of his total net worth. My will provides that about 99.5 percent of my estate is destined for philanthropic usage, he said.

Earlier this year, Kenya received a 20 million donation from the Susan Thompson Buffett Foundation. The funds will go directly to the State Department of Medical Services to support the countrys strained healthcare system. The boost comes at a difficult time, Kenyas public health services have been under pressure for years, worsened by declining foreign aid, especially after U.S. funding cuts during the Trump administration.