Buffett Donates $2.8 Billion, Breaks Personal Giving Record

Warren Buffett has bested his own personal philanthropy record once again, donating $2.8 billion to the Bill and Melinda Gates Foundation and several other charities as part of his annual giving pledge. The gifts given Monday top last year’s $2.6 billion donation.

The Berkshire Hathaway CEO’s latest gift of more than 21.7 million shares of Berkshire Hathaway class B stock — valued at $128.98 per share at Monday’s close — decreases his personal fortune from $65.9 billion down to $63.1 billion. He slips one spot on Forbes’ list of the world’s richest people, moving into 4th behind clothing and real estate magnate Amancio Ortega.

This years gift includes 16.59 million shares worth $2.1 billion for the Gates Foundation, the philanthropy operation of the world’s second-richest man Bill Gates($79 billion), which focuses on causes like ending world poverty, aiding U.S. schools and improving birth control technology.

He also gave away $215 million to the Susan Thompson Buffett Foundation, an organization named for his late wife that provides scholarships for education. The Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation — run by his children Howard, Susan and Peter, respectively — each received gifts worth $150 million. 

Last year, the Berkshire Hathaway CEO donated 22.87 million shares worth $2.6 billion, including $2 billion for the Gates Foundation in addition to sizable gifts for his family’s charities. Buffett and Gates, longtime partners in giving, are the world’s most generous philanthropists as well as the leading advocates of giving to other fellow billionaires. The duo introduced the The Giving Pledge in 2010, encouraging the world’s wealthy to commit to donating at least half of their fortunes to philanthropy during their lifetime or after they die. Buffett, who has pledged to give away 99% of his fortune, has given away nearly $23 billion so far. Gates leads all givers with $28 billion.