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Warren Buffett is donating $3.6 billion in Berkshire shares to 5 foundations including Gates

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In a move to convert shares of his Berkshire Hathaway stock, Warren Buffett said he will donate $3.6 billion worth to five foundations, including the Bill & Melinda Gates Foundation.

According to CNBC, the Oracle of Omaha will convert 11,250 of his Class A shares into 16.875 million Class B shares.

Buffett pledged in a 2006 letter to make annual gifts of Berkshire B shares throughout his lifetime for the benefit of the Bill & Melinda Gates Foundation.

Read more from CNBC.

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