Warren Buffet donates $ 4.1 billion and resigns from the Bill and Melinda Gates Foundation

The legendary investor’s decision comes as he is resigning from all corporate boards of directors and within weeks of being singled out as the billionaire who has avoided paying the most taxes to the IRS

Photo: JOHANNES EISELE / AFP / Getty Images

Warren Buffett, the billionaire investor of 91 years behind the famous conglomerate Berkshire Hathaway , announced this Wednesday who will make a new donation of $ 4, 100 million dollars to charity while saying that he would cease to be an inactive trustee of the Bill and Melinda Gates Foundation.

In a statement Buffett said he was going to donate $ 4, 100 million dollars worth of Berkshire Hathaway shares to the five foundations to which has provided money every year since 2006: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, the Novo Foundation and the Ga Foundation tes.

Buffett announced that he will resign as an “inactive” trustee at the Gates Foundation, saying that his “physical involvement is in no way necessary to achieve” the goals of the foundation without mentioning the couple’s divorce . The billionaire said the move follows his decision to resign from all corporate boards of directors, in addition to Berkshire, where he remains chairman and chief executive officer.

Buffett’s promise

“Today is a milestone for me,” Buffett said Wednesday. “On 2006, I agreed to distribute all of my Berkshire Hathaway shares, more than 99% of my net worth, at philanthropy. With the $ 4 distribution, 105 million dollars today, I’m halfway there. ”

The investor clarified that he now owns 238, 624 Berkshire Hathaway shares , with a value of about $ 99, 000 million dollars, putting him in the middle of his goal of his pledge to donate all 474, 998 shares owned in June of 2006.

How much len the donated shares?

The total value of Buffett’s donations of stock to philanthropy was worth $ 37, 000 millions of dollars. According to Forbes, the value of Buffett’s fortune is valued at about $ 105, 000 millions of dollars. It is estimated that in the last 14 years the “Oracle of Omaha” has made more than $ 37, 000 millions of dollars in donations .

Related: “Stop using your credit card like a piggy bank”: Warren Buffett’s best advice during the COVID pandemic – 19

ProPublica revealed earlier June that the CEO and President of Berkshire Hathaway, has avoided paying the highest amount of taxes to the Service Internal Revenue Service (IRS) . According to the report, Buffett has paid a tax rate of 0.1% on the $ 23, 300 millions of dollars in wealth accumulated between 2014 Y 2018 . During this period, according to the data, Buffett declared to have paid $ 19. $ 7 million in taxes . In the United States, taxes are assessed on income, rather than wealth.

Buffet is part of the select club of billionaires who have made millionaire donations. Last week philanthropist MacKenzie Scott reported on her blog that had delivered about $ 2, 740 millions of dollars to more than 280 institutions and non-profit organizations .

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