Warren Buffett is donating $6 billion worth of his company's stock to 5 organizations

Famed investor Warren Buffett is donating $6 billion worth of his company’s stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received.Buffett said late Friday that the shares of Berkshire Hathaway will be delivered on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its stock. Those shares have a lower and easier-to-digest price tag than the company’s original Class A shares, and each of the B shares was worth $485.68 at their most recent close on Friday. Here’s a breakdown of where that $6 billion is going.Bill & Melinda Gates Foundation – 9.4 million sharesSusan Thompson Buffett Foundation – 943,384 sharesSherwood Foundation – 660,336 sharesHoward G. Buffett Foundation – 660,336 sharesNoVo Foundation – 660,336 shares Buffett notably said in June 2024 that he will not donate to the Bill & Melinda Gates Foundation after he dies, and his wealth will be put in a new charitable trust that his children will oversee.Berkshire Hathaway’s Class B stock has climbed 19.1% over the last 12 months, topping the broad U.S. stock market’s return of 14.1%, including dividends. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. The bargain-hunting approach has helped him amass a fortune worth about $145 billion, with basically all of it in Berkshire Hathaway’s stock.“Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,” Buffett said in a statement. “My will provides that about 99½% of my estate is destined for philanthropic usage.”This donation comes a couple of months after Buffett announced his retirement, leaving Berkshire Hathaway in the hands of Greg Abel.