Warren Buffett gave almost half his fortune to charity
- Warren Buffett has gifted nearly half of his wealth to charitable causes.
- If the famed investor had kept all 475,000 of his Berkshire Hathaway Class A shares, they would be worth about $129 billion (R2.1 trillion) today, making him the world's second-wealthiest person.
- His fortune would still be almost $50 billion (R844 billion) short of Amazon CEO Jeff Bezos' $178 billion (R3 trillion), per the Bloomberg Billionaires Index.
- Even at Berkshire's peak stock price in January, Buffett would have a $164 billion (R2.7 trillion) fortune and still be poorer than Bezos.
- For more articles, go to www.BusinessInsider.co.za.
The famed investor has given away roughly 226,000 of his Berkshire Hathaway Class A shares, worth a little over $61 billion (R1 trillion) at the current stock price of $272,400 (R4 million).
He still owns around 249,000 or 52% of his Class A shares, currently worth about $68 billion (R1.1 trillion) - not far off his estimated net worth on the Bloomberg Billionaires Index.
If Buffett had held on to all 475,000 Class A shares, they would be valued at $129 billion (R2.1 trillion) today, assuming Berkshire's stock price wouldn't be affected by his lack of giving.
A net worth of that size would catapult him from sixth place on the Bloomberg Billionaires Index to second place, overtaking Microsoft cofounder Bill Gates and his $115 billion (R1.9 trillion) fortune.
However, Bezos is currently worth $178 billion (R3 trillion), or $49 billion (R827 billion) more than a theoretically stingy Buffett. Amazon stock has surged more than 60% this year, boosting Bezos' fortune by roughly the same proportion.
Even at Berkshire's peak Class A share price of about $345,000 in mid-January of this year, Buffett's shares would be worth around $164 billion (R2.7 trillion) - still about $14 billion (R236 billion) shy of Bezos' net worth.
To be fair, Bezos' wealth would also be higher without his charitable contributions. However, he has been far quieter on the philanthropic front.
The Amazon chief's most notable moves are launching a $2 billion (R33 billion) fund focused on education programs for homeless people in 2018, and pledging $10 billion (R168 billion) toward fighting climate change in February.
Receive a daily update on your cellphone with all our latest news: click here.
Get the best of our site emailed to you daily: click here.
Also from Business Insider South Africa:
- Gold is rocketing - and there are many ways to invest. But some experts are not biting
- Cleaning company admits to Sassa price fixing, top businesswoman named
- These 'coronavirus jobs' are in demand in SA, including Covid-19 safety officers and tutors
- A Cape Town drive-in concept sold hundreds of non-refundable tickets, but is still not open
- Some SA celebs will send you a personalised video for R150 - but Siya Kolisi, Kurt Darren are pricier