AP News

Buffett now controls 34 percent of Berkshire stock


OMAHA, Neb. (AP) — Billionaire Warren Buffett's recent donations of Berkshire Hathaway stock reduced his voting power in the company to about 34 percent.

Buffett said Monday that he had given nearly 23 million Class B shares of Berkshire stock to five charities as part of his plan to gradually give away his fortune.

After making those gifts, Buffett held 336,000 Class A shares of Berkshire stock and 1,567,907 Class B shares.

That translates into about 34 percent of the voting power, so Buffett remains the biggest Berkshire shareholder. Before the latest donations, he controlled nearly 35 percent of the voting power.

Buffett's stock was worth $58.1 billion at Monday's prices, so his fortune has grown even though he began making annual stock donations in 2006. Buffett is Berkshire's chairman and CEO.


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