In a statement released on June 23, the 90-year old billionaire said: “Society has a use for my money; I don't." Within the statement, he also announced he would be stepping down as a trustee of the Bill and Melinda Gates Foundation. This latest $4.1 billion donation takes Mr Buffett half of the way to meeting a pledge made back in 2006 to pass all of his Berkshire Hathaway shares on to five organisations, with one of these organisations being the Gates Foundation. Despite the donation, Mr Buffett still has over 238,624 shares.
Back in March, Mr Buffett joined an exclusive club, whose members include Jeff Bezos, Bill Gates, and Elon Musk, after Berkshire Hathaway’s shares rocketed to record levels. In 2010, Mr Buffett co-founded the Giving Pledge alongside Bill and Melinda Gates. The campaign encourages billionaire philanthropy, with those who sign the pledge publicly promising to donate at least half of their wealth during their lifetimes, or in their wills.
Billionaire novelist and philanthropist MacKenzie Scott also signed up to the pledge. Recently, she announced she had donated a further $2.7 billion to a wide number of charitable organisations.
