Buffett gifts stock worth more than $2.8b

Berkshire Hathaway Chairman and CEO Warren Buffett  reacts at the newspaper throwing competition while touring the exhibition floor prior to the annual shareholders meeting on Saturday, May 3, 2014, in Omaha, Neb. More than 30,000 shareholders are expected to fill the CenturyLink Arena to hear Buffett and Berkshire Vice Chairman Charlie Munger discuss their business. (AP Photo/Nati Harnik)

Ohama
(Associated Press)
Investor Warren Buffett has given more than $US2.8 billion ($A3.73 billion) worth of Berkshire Hathaway stock to five charities as part of his plan to gradually give away his fortune.

Buffett, who is Berkshire’s chairman and chief executive, said in a news release on Monday, that he made his annual gifts last week.

Buffett has been giving away blocks of Berkshire stock since 2006 with the biggest share going to the Bill and Melinda Gates Foundation.

He also gave Class B Berkshire shares to his own foundation and to the foundations run by each of his three children.

In addition to these major gifts that Buffett makes each summer, he also gives smaller blocks of stock to several unnamed charities each year.

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