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Warren Buffett, the "God of stocks", plans to donate $3.6 billion of stocks to the foundation

Original title: Buffett plans to take out about $3.6 billion in shares and continue to donate to the five foundations

'stock God 'Warren & middot; Warren Buffett has pledged $34 billion to five foundations.

The five foundations are Bill Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood foundation and Howard g. Buffett Foundation (Howard & middot; G & middot; Buffett Foundation operated by Buffett's son Howard) and novo Foundation (novo foundation operated by Buffett's son Peter and his wife).

According to the Wall Street Journal on July 1, Buffett plans to convert 11250 A shares of Berkshire & middot; Hathaway into about 16.9 million B shares, of which about 16.8 million B shares will be donated to the above five foundations.

The present value of the shares to be donated is about $3.6 billion, the largest donation in history.

In 2006, Buffett made a commitment to donate about 85% of Berkshire & middot; Hathaway's shares to these five foundations, most of which will be mainly donated to bill Melinda Gates Foundation.

The original plan was later revised. It was planned that Buffett would donate all Berkshire shares within ten years after the settlement of his estate.

So far, the billionaire investor has donated about $34 billion to charities including the bill Melinda Gates Foundation.

According to FactSet, as of June 30, Buffett held 37.4% of Berkshire & middot; Hathaway's shares.

In 2010, Mr. and Mrs. Bill Gates and Buffett jointly launched the "Giving Pledge" program, which aims to promote the richest people in the world to join the team of charitable donation and use most of their wealth for charity.

Buffett published a handwritten letter entitled "my charitable commitment" in Fortune magazine at that time, detailing the reasons for his decision to 'donate naked'.

'first of all, I promise that I will donate more than 99% of my personal wealth to charities when I live or die. In dollar terms, this is a big commitment. But relatively speaking, many people donate more to others every day. Millions of people often donate to churches, schools and other institutions, so they give up using the money themselves. They could have used it This will benefit my family. If they put their money into the fund-raising box or donate it to the United way, they will give up watching movies, dining out or other personal enjoyment. On the contrary, fulfilling the commitment to donate 99% of their wealth does not require me and my family to give up anything they need or want, 'Buffett said.

Buffett also wrote in his letter: 'all I can do is take out a large number of Berkshire & middot Hathaway shares - these & lsquo; ask for vouchers & rsquo; can buy a lot of resources after they are converted into cash - to benefit those who have suffered misfortune in life due to their poor fate. So far, I have donated 20% of the shares (including the shares donated by my dead wife Susan & middot; Buffett). I will continue to donate about 4% of my shareholding every year. All the money I hold in Berkshire will be used for various charities within 10 years after the completion of my estate inventory. "

Buffett, 89, said that for him, the most precious thing is not wealth, but time. Being able to use this 1% wealth with his family to obtain priceless happiness and happiness is better than enjoying 99% of his property alone.

Buffett pointed out that the pursuit of material is a necessity, but in the process of chasing, once we lose ourselves, people will turn into material 'slaves' and face the situation of' money is difficult to buy happiness'. 'my family and I don't feel guilty about our super good luck, but are grateful. We use 1% of our own property is enough, and exceeding this proportion can't make us faster Happy, happier. On the contrary, the remaining 99% of property can have a great impact on the health and welfare of others. This reality prompted me and my family to choose an obvious path: leave enough property to meet all our imaginable needs, and donate the rest to society to meet its needs. My commitment has set us on this path. "