Coligo Contributor Aisha Powell (@aishapowell_)
Warren Buffet donates $3.17 Billion to multiple charity and foundations, furthering his mission to give away most of his fortune to charitable causes.
The 86 year-old billionaire investor has joined The Giving Pledge to help give back to causes around the world. The pledge was created by Bill and Melinda Gates and Buffet, to help set a new standard of generosity among the ultra-wealthy. Billionaires around the world can sign up to dedicate the majority of their wealth to philanthropy. Buffet pledged:
“In 2006, I made a commitment to gradually give all of my Berkshire Hathaway stock to philanthropic foundations. I couldn’t be happier with that decision…First, my pledge: More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.”
His latest donation of $3.17 billion is his biggest donation as of today and a major step towards his mission. Most of his donation ($2.42 billion) is going to the Gate’s Foundation, which is Bill Gate’s foundation that focuses on improving health, reducing poverty and aiding education.
The rest of his donation has gone to the Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation. Buffet has given more than 40% of his stakes in his company away and still owns 17%. To read more about the Giving Pledge and see what each foundation does visit thegivingpledge.org, gatesfoundation.org, buffetscholarships.org, sherwoodfoundation.org and novofoundation.org.