Innovation Update
Buffett Gives Gates Foundation $1.25 Billion
Jeanine Poggi
07/02/09 - 05:04 PM EDT
Warren Buffett is in a giving mood -- and when Buffett gives, he really gives.
The billionaire investor has donated $1.25 billion in shares of his Berkshire Hathaway(BRK-B Quote) to the charitable organization run by Microsoft(MSFT Quote) founder Bill Gates and his wife, Bloomberg has reported.
Buffett donated 428,688 shares of Berkshire, valued at $2,924 each, at the close of trading on Wednesday, according to a regulatory filing.
This is the latest gift Buffett has made to the Bill & Melinda Gates Foundation. He made a pledge in 2006 to give a hefty chunk of his fortune -- about $30.7 billion on it -- to the organization, which focuses on education and global health.