Buffett makes $1.6 bln gift to Gates Foundation

Buffett makes $1.6 bln gift to Gates Foundation: "Buffett makes $1.6 bln gift to Gates Foundation

Reuters
Thursday, August 24, 2006; 6:50 PM

NEW YORK (Reuters) - Warren Buffett on Thursday donated $1.6 billion of Berkshire Hathaway Inc. stock to the Bill & Melinda Gates Foundation, the first major installment in Buffett's plan to give away much of his fortune.

According to a U.S. Securities and Exchange Commission filing, Buffett donated 500,000 Berkshire Class B shares, valued at $3,208 each based on Thursday's closing price. The shares rose $35 on Thursday."

Tags: NPMegaGivers, NPFundraising