(Bloomberg) -- Warren Buffett contributed $3.4 billion to five charities as the investor continues making good on a pledge to give away all of his Berkshire Hathaway Inc. shares.
Buffett, 87, has donated a total of about $31 billion to the foundations, according to a statement Monday from Berkshire, where he is chief executive officer and chairman. The latest gift, comprised of about 17.7 million Class B shares, went to charities including the Bill and Melinda Gates Foundation, one named after his first wife who died in 2004, and each of his children's foundations.
The billionaire investor pledged in 2006 to give his wealth to philanthropy and has pushed other entrepreneurs to pursue charitable giving. Donations to the five foundations have been boosted by gains in Berkshire's stock price, which climbed 13 percent over the past year.
To contact the reporter on this story: Katherine Chiglinsky in New York at kchiglinsky@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, Mary Romano
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