Warren Buffett is donating $3.6 billion in Berkshire shares to 5 foundations including Gates

Warren Buffett, chairman of Berkshire Hathaway Inc., right, and Bill Gates, chairman and co-founder of Microsoft Corp., participate in a newspaper toss event at the Berkshire Hathaway annual shareholders meeting on Saturday, May 5, 2012.

Daniel Acker | Getty Images
Warren Buffett, chairman of Berkshire Hathaway Inc., right, and Bill Gates, chairman and co-founder of Microsoft Corp., participate in a newspaper toss event at the Berkshire Hathaway annual shareholders meeting on Saturday, May 5, 2012.

Warren Buffett said he will donate $3.6 billion worth of Berkshire Hathaway shares to five foundations including the Bill & Melinda Gates Foundation.

The Oracle of Omaha will convert 11,250 of his Class A shares into 16.875 million Class B shares. About 16.8 million of these Class B shares will be donated to five foundations: Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation, the company said in a statement on Monday.

This is a developing story. Check back for updates.



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