Warren Buffett, the billionaire investment guru, is donating about $2.6 billion in stock to five charities as part of a plan to give away the bulk of his wealth before he dies.
The chairman and chief executive of investment firm Berkshire Hathaway has watched his fortune soar this year as the company’s stock jumped more than 25 percent. In March, Forbes magazine pegged his wealth at $53.5 billion.
The bulk of the annual donation, about $2 billion, went to the Gates Foundation, the philanthropic organization set up by Microsoft co-founder Bill Gates.
Buffett also donated millions to his own foundation and the charitable organizations set up by his three children.