Warren Buffett Donates To His Family's Charities More Than USD750 Million

The four foundations managed by Warren Buffett's family received more than USD750 million in Berkshire Hathaway shares from the billionaire investor, but unlike his usual summer donations to charity, the Bill & Melinda Gates Foundation was not among the recipients.

Since announcing a plan to donate his fortune over time in 2006, Buffett has given annually to the same five charities, with the Gates Foundation getting the largest donations. Wednesday's donations mark the first time the 92-year-old has made a second major gift within the same year.

 According to a filing with the Securities and Exchange Commission, Buffett donated the Susan Thompson Buffett Foundation—named for his first wife—1.5 million Class B shares in the Omaha, Nebraska-based conglomerate he oversees.

Additionally, he gave 300,000 Class B shares to each of the three foundations administered by his children: Sherwood, Howard G. Buffett, and NoVo.

He provided 1.1 million Class B shares to the Susan Thompson Buffett Foundation, 770,218 shares to each of his children's three charities, and 11 million Class B shares to the Gates Foundation in June.

The new donations this week's inspiration wasn't immediately clear, and Buffett didn't immediately react to questions about them on Wednesday. Questions were not immediately answered by the Buffett family foundation or the Gates Foundation, which both received the grants.

Buffett increased the amount pledged to the foundations his children oversee ten years ago because he was happy with what they had done with his money. This was the only other big change he made to his giving plans throughout the years.