On Wednesday, businessman and investor Warren Buffett announced that he is halfway through his mission, which he began in 2006, to donate 99% of his net worth.
The businessman and investor is open about his good fortune, and in his Giving Pledge, he stated:
“My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the U.S. were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.)”
What is Warren Buffett’s net worth?
Warren Buffett’s net worth is $104.4b according to Forbes, which places him at number six on the Forbes 2021 Billionaires list.
Buffett made his wealth through his multinational conglomerate Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and Dairy Queen.
Back in 2010, Warren Buffett, along with Bill and Melinda Gates, set up the Giving Pledge, a platform which welcomes billionaires to to “publicly commit to giving the majority of their wealth to philanthropy.”
In his own pledge, Buffett states: “More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.”
Warren Buffett donates $4.1 billion in shares
On Wednesday June 23rd, Warren Buffett announced that he is halfway through his mission to donate 99% of his net worth as a result of his latest $4.1 billion donation to five foundations. In a statement, Buffett said:
“Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares- more than 99% of my net worth- to philanthropy. With today’s $4.1 billion distribution, I’m halfway there.”
The businessman continued on to say:
“I’m optimistic. Though naysayers abound- as they have throughout my life- America’s best days most certainly lie ahead. Philanthropy will continue to pair human talent with financial resources. So, too, will business and government. Each force has its particular strengths and weaknesses. Combined, they will make the world a better place- a much better place- for future generations.”