Warren Buffett donated about $6 billion of Berkshire Hathaway stock this week, giving 9 million Class B shares to the Susan Thompson Buffett Foundation and 1 million each to three foundations run by his children. The 95-year-old chairman still holds a stake worth roughly $138 billion, which he plans to fully donate by December 31, 2034. The gifts were created by converting 8,000 Class A shares into 12 million Class B shares, leaving Buffett with about 188,000 Class A shares. Since 2006, Buffett has donated more than $47 billion of Berkshire stock to the Gates Foundation alone, though this year's gifts went entirely to the four family foundations. The scheduled donations, averaging around $17 billion annually over eight years, represent a small fraction of the $1.1 trillion conglomerate, and Berkshire can absorb some of the shares through repurchases. The conversions gradually reduce Buffett's voting power, which stood at 30.2%, signaling a slow, pre-announced handover of control as CEO Greg Abel eventually leads a company without a single controlling shareholder.
Berkshire Hathaway IncBuffett's donation plan reduces his voting power and signals gradual handover of control, but Berkshire can absorb shares via buybacks; net impact on stock is unclear.
NVIDIA Corporation