Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) announced today that chairman Warren E. Buffett has converted 11,867 of his Class A shares into 17,800,500 Class B shares and donated 17,696,780 of those shares to five foundations.
The shares have a current value of $3.4bln.
The foundations include the Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.
Buffett has never sold any shares of Berkshire Hathaway. With the current gift, about 43% of his 2006 holdings have been given to the five foundations.
Their value at the time of the gifts, including the 2018 gift, totals about US$31bln.