Ace investor and Berkshire Hathaway CEO Warren Buffett turns 93
investor and the Chief Executive Officer (CEO) of multinational conglomerate Berkshire Hathaway turned 93 on August 30, 2023.
Buffet is the world's fifth richest man in Forbes Real-Time Billionaires’ list with a net worth of nearly $118.3 billion (as estimated by Forbes).
Earlier this month, Berkshire Hathaway reported its best-ever quarterly results. Analysts were expecting its operating earnings to fall 8% on a revenue growth of 6%.
But Buffett had a surprise in store for the Street.
A $27 million donation
Warren Buffett donated nearly $27 million of Berkshire Hathaway stock to an unnamed charity, the latest move in the billionaire investor's plan to give away his fortune, Reuters had reported.
Berkshire had disclosed Buffett's donation of 50 Class A shares in a filing with the U.S. Securities and Exchange Commission.
The donation was made on Aug.
15, when the shares closed at about $538,107.
It is separate from Buffett's annual gifts to the Bill & Melinda Gates Foundation and four charities overseen by his family. They have received more than $51 billion from Buffett since 2006.
Buffett still owns 218,237 Class A shares of Berkshire, for an approximately 15% stake in the Omaha, Nebraska-based conglomerate he has run since 1965.
Buffett has said more than 99% of his net worth will go to charity.
Berkshire owns several dozen businesses including the BNSF railroad, Geico car insurance and many energy, manufacturing and retail operations.
As of June 30, it also owned more than $353 billion of stocks, half of which was iPhone maker Apple.
A Street daredevil
Warren Buffett’s investment wisdom transcends borders and generations, leaving an indelible mark on Indian fund managers including ICICI Prudential’s Naren and DSP’s
