World-renowned American investor Warren Buffett donated $6 billion worth of Berkshire Hathaway shares to charities on Friday, including the Gates Foundation. This is his largest annual donation since he began giving away his fortune nearly twenty years ago.
The donation brought Buffett’s total charitable donations to over $60 billion. Buffett has joined the initiative The Giving Pledge. With this, he promises to give away 99 percent of his wealth to charity.
His fortune before Friday’s donations was $152 billion, making him the fifth richest person in the world, according to Forbes. After this latest donation, Buffett is number six on the list.
The now 94-year-old Buffett announced in late May that he will step down as head of Berkshire Hathaway at the end of this year. He still owns 13.8 percent of the company’s shares.
Under Buffett, Berkshire Hathaway grew into a huge conglomerate, with a value of $1.1 trillion. Berkshire Hathaway owns parts of large companies such as Apple and Coca-Cola.
Buffett is considered one of the world’s most successful investors. He is known for his simple advice, such as the importance of long-term investing and avoiding panic when the markets fluctuate.