Buffett Shifts Billions From Gates Foundation

Warren Buffett, a famed investor, made a big change to his charitable gifts. He redirects billions of dollars of his company's stock. This money now goes to his children's foundations. The Bill and Melinda Gates Foundation no longer receives these funds.

Buffett gave away Berkshire Hathaway stock valued at almost $6 billion. He gives these gifts every year. This move follows his decision to leave the Gates Foundation board last year.

His children's foundations are now the main recipients. The Susan Thompson Buffett Foundation, Sherwood Foundation, and Howard G. Buffett Foundation all benefit. This shift means more support for their work.

Buffett's past gifts to the Gates Foundation totaled over $30 billion. His recent actions show a clear change in his giving strategy. This keeps his wealth within his family's charitable control.

Source: Fox Business