Warren Buffett on Monday donated about $2.84 billion of Berkshire Hathaway Inc stock to the Bill and Melinda Gates Foundation and four family charities, as part of the billionaire`s plan to give away nearly all of his wealth.
The 10th annual donation, Buffett`s largest, comprised 20.64 million Class "B" shares of Berkshire, and increased Buffett`s total contributions to the charities to more than $21.5 billion.
The Gates Foundation, which focuses on improving education and health and reducing poverty, receives the biggest share.
Also receiving donations are the Susan Thompson Buffett Foundation, named for Buffett`s late first wife, and the Howard G. Buffett, Sherwood and NoVo Foundations, respectively overseen by his children Howard, Susan and Peter.
Buffett, 84, still owns nearly 19 percent of Berkshire`s stock. Forbes magazine on Monday estimated that would give him a net worth exceeding $64 billion, ranking fourth worldwide.
Bill Gates, the Microsoft Corp co-founder and Berkshire director, ranked first, at $78.8 billion.
Most of Buffett`s holdings are in Class "A" stock, which gives him about one-third of Berkshire`s voting power.
Buffett typically makes his donations in July, reducing the number of shares by 5 percent from the prior year. (http://www.berkshirehathaway.com/donate/webdonat.html) Dollar amounts often rise because of increases in Berkshire`s stock price.
The charities typically sell donated shares to finance their activities, reflecting Buffett`s desire that the money be spent. Buffett also makes smaller donations to other charities.
Buffett has run Berkshire since 1965. The Omaha, Nebraska-based company has more than 80 businesses in such areas as insurance, railroads, energy and chemicals, and as of March 31 had more than $143 billion of stock and bond investments.
Berkshire also owns nearly 27 percent of food and beverage company Kraft Heinz Co , which began trading on Monday.