In one of ace investor Warren Buffett‘s biggest annual donations since 2006, the philanthropist has donated $5.3 billion worth of Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) shares to five charities. This donation consists of 13 million shares of Berkshire’s Class B stock.
Distribution of Berkshire Hathway Shares Among Charities
As a part of this donation, Buffett is donating 9.93 million shares to the Bill & Melinda Gates Foundation. Additionally, he is donating 993,035 shares to the Susan Thompson Buffett Foundation, named after his late first wife. The investor is donating 695,122 shares to each of three charities led by his three children. This includes the Howard G. Buffett Foundation, the Sherwood Foundation, and the NoVo Foundation.
Buffett has pledged to donate 99% of the fortune he built at Berkshire. Despite donating more than 50% of his shares, he remains worth $134.3 billion, making him the world’s eighth-richest person, according to Forbes.
After these donations, Buffett owns 207,963 Berkshire A shares and 2,586 B shares, worth around $130 billion.
Is Berkshire Hathaway a Good Buy?
Investors have the option to buy Berkshire Hathaway’s Class A or Class B shares. However, in terms of affordability, Berkshire Hathaway’s Class B shares are a better option. Only three analysts have covered BRK.B stock over the past three months, all with a unanimous rating of Buy. Over the past year, BRK.B has increased by more than 20%, and the average BRK.B price target of $470.67 implies an upside potential of 14.8% from current levels.
