Wednesday, Oct 16th

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Buffett donates record $2.84 bln to Gates, other family charities


 buffettNEW YORK--Warren Buffett on Monday donated about $2.84 billion of Berkshire Hathaway Inc stock to the Bill and Melinda Gates Foundation and four family charities, as part of the billionaire's plan to give away nearly all of his wealth.
  The 10th annual donation, Buffett's largest, comprised 20.64 million Class "B" shares of Berkshire, and increased Buffett's total contributions to the charities to more than $21.5 billion. The Gates Foundation, which focuses on improving education and health and reducing poverty, received about 15.76 million shares, or 76 percent of the total donated.
  Buffett typically makes his donations in July, reducing the number of shares by 5 percent from the prior year. ( Dollar amounts often rise because of increases in Berkshire's stock price. The charities typically sell donated shares to finance their activities, reflecting Buffett's desire that the money be spent. Buffett also makes smaller donations to other charities.
  Berkshire also owns more than 325.4 million shares, or nearly 27 percent, of food and beverage company Kraft Heinz Co, which began trading on Monday. That stake is worth nearly $24 billion.