The 90-year-old American tycoon Warren Buffett’s net worth would be higher had he not in 2006 begun donating his Berkshire shares to the Bill & Melinda Gates Foundation and four family charities. Warren Buffett’s fortune reached US$100 billion on Wednesday, as investors drove the stock price for his company Berkshire Hathaway Inc to a record level, Reuters reports. Buffett’s net worth, as measured by Forbes magazine, comes almost entirely from owning about one-sixth of Berkshire, a roughly US$600 billion company. The 90-year-old Buffett’s net worth would be higher had he not in 2006 begun donating his Berkshire shares to the Bill & Melinda Gates Foundation and four family charities. Buffett had previously owned nearly one-third of Berkshire, and his donations have totaled more than US$37 billion when they were made.

Source: The Standard March 10, 2021 18:56 UTC