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New York: Legendary investor and philanthropist Warren Buffett has donated Berkshire Hathaway shares worth USD 1.25 billion to the Bill & Melinda Gates Foundation Trust.
Berkshire Hathaway, a diversified financial insurance firm, is the flagship company of Buffett.
The company said in regulatory filling that Buffett donated 428,688 class B shares of Berkshire to the Trust worth USD 1.25 billion.
On July 1, 2009, the Trust (Bill & Melinda Gates Foundation Trust) received 428,688 Class B Shares as a gift from Warren E Buffett. The closing price per share of the Class B Shares on July 1, 2009 was USD 2,924, Berkshire Hathway said in the regulatory filing.
Bill & Melinda Gates Foundation Trust beneficially owns 1,679,138 shares of Berkshire Hathaway Class B shares. The Class B Stock is a special category of share usually retained by company founders at the time a company goes public and carries certain rights not granted to the stock available to the public.
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