Warren Buffett explains his $750 million charity donation on the eve of Thanksgiving

warren buffet

Gerard Miller | CNBC

Warren Buffett donated more than $750 million in Berkshire Hathaway stock to four foundations associated with his family the day before Thanksgiving, and the legendary investor says the timing was no coincidence because it’s his way to thank his children for their charitable work.

“I’m personally proud of how my kids turned out,” Buffett told CNBC’s Becky Quick. “I feel good about them knowing I feel good about them. That’s the ultimate endorsement from my kids, and it’s the ultimate statement that my kids don’t want to be dynamically rich.”

The 92-year-old investor donated 1.5 million Class B shares of his conglomerate to the Susan Thompson Buffett Foundation, named after his first wife. He also donated 300,000 Class B shares each to the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

The recipients this time did not include the Bill & Melinda Gates Foundation. “The Oracle of Omaha” has pledged to give away its fortune over time and has made annual donations to the same five charities since 2006.

In June, he donated 11 million Class B shares to the Gates Foundation, 1.1 million B shares to the Susan Thompson Buffett Foundation and 770,218 shares each to his three children’s foundations.

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