11:58 - 29.11.2024

---

November 29, Fineko/abc.az. American billionaire and investor Warren Buffett will transfer shares of investment company Berkshire Hathaway he founded in the amount of about $1.2 billion to four family charities, ABC.AZ informs, referring to company's statement.

Buffett will convert 1,600 Berkshire class "A" shares owned by him into 2.4 million class "B" shares. Of them, 1.5 million securities will be transferred to the Susan Thompson Buffett Foundation, named after his wife, and 300,000 shares each to the funds of his children, the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

Berkshire's class "B" shares were traded at $481 on Monday. Since the beginning of this year, their cost has increased by almost 35%.

The businessman has been donating large sums of money to charity in the form of Berkshire shares every year since 2006. Earlier, he promised to give 99% of his fortune for these purposes.