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Buffett gives $2 billion to Gates Foundation
Tuesday, 9 July 2013 11:15am

Legendary investor and billionaire Warren Buffet has continued his annual donation plan by giving more than $US2.6 billion ($2.9 billion) worth of Berkshire Hathaway stock to five charities.

The largest proportion of Berkshire Hathaway Class B shares - worth around US$2 billion - will go to the Bill and Melinda Gates foundation.

Buffett, who is chairman and chief executive of Berkshire, also gave 1.75 million shares to his own foundation and 1.2 million share to each of his three children's' foundations.

According to an announcement on the Securities and Exchange Commission, Buffett converted 14,000 class A shares to 21 million class B shares on 5 July to complete the donation.

In 2006 Buffett pledged to give about $31 billion to the Gates Foundation, which aims to improve health and education in poor nations. He has been donating annually ever since.

Buffett's total fortune is estimated at around US$59 billion.

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