US Tycoon Warren Buffet Donates Over R52 Billion of His Wealth to Charity

US Tycoon Warren Buffet Donates Over R52 Billion of His Wealth to Charity

  • Warren Buffet announced that he is giving away shares worth over R52 billion to charity
  • The move is in line with his 2006 pledge to give away 99% of his wealth
  • Buffet also announced that he is stepping down from the Bill and Melinda Gates Foundation

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Billionaire investor Warren Buffet has given over R52 billion to charity.

Warren Buffet
Warren Buffet has donated over R52 billion of his personal fortune to charity. Photo: Scott Eells
Source: UGC

The billionaire announced the donations on 24 June, 2021, while also revealing that he would be stepping down from the Bill and Melinda Gates Foundation.

In the statement, the 90-year-old said he is giving away stock worth over R52 billion from Berkshire Hathaway, his multinational conglomerate holding company.

Forbes reported that the billionaire pledged to give away 99% of his wealth to charity in 2006.

“With today’s R52 billion distribution, I’m halfway there,” Buffet said in a statement.

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Forbes estimated that the businessman’s fortune is worth over $105.3 billion.

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On his resignation from the Bill and Melinda Gates Foundation, Buffet said that his participation is not required for the foundation to achieve its goals. However, he did not mention Bill and Melinda’s ongoing divorce.

Buffet's donation comes soon after McKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, donated over $2.7 billion to charity.

A woman's day was made after she received a wonderful donation

In other inspiring news, Briefly News reported that community members in Northriding recently came together to help a woman, Lebo, who went viral after she was captured begging police officers not to confiscate her doggy beds, which she was selling on the side of the road.

According to a post made in Facebook's ImStaying by Shireen Ebrahim, community members in the area decided to pitch money together to pay the R3 700 fine that the young woman was charged for selling her products without a licence. The post on Facebook read:

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Happy ending: Community joins hands to help hawker whose goods were confiscated by cops

"Her fine for the confiscated goods was R3 700, the community and various members supported her in paying this in full. The process has kicked off for a trading vendor licence."

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Source: Briefly News

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