Warren Buffett sets personal record, donates nearly $3.2 billion in a single day
The most successful investor in the world, Warren Buffett, is a business magnate and a philanthropist, whose net worth is 76.7 billion USD. At 14, we hardly know what income tax returns are, leave alone filing one. But you will be surprised to know that Warren Buffett, had paid $7 tax in 1944 when he was 14 years old.
His tax return documents were recently released by PBS NewsHour. Buffett’s income in 1944 was $592.50 and he paid a $7 tax, as per the released documents. In terms of 2017 figures, this translates to $8,221.18 in income and $97.13 owed in taxes.
As a 14 year old, Buffett was living in Washington, DC. At that time, as per US rules, anyone earning more that $500 had to file tax returns. Warren Buffett has also been in news for his philanthropic activities.
Recently, he donated roughly $3.17 bn of Berkshire Hathaway Inc stock to the Bill & Melinda Gates Foundation and four family charities. This is his largest contribution in a more than decade-long plan to give away his fortune.
The Gates Foundation, which focuses on improving health, reducing poverty and aiding education, is receiving about $2.42 billion of this donations. Buffett also donated to the Susan Thompson Buffett Foundation, named for his late first wife, and the Howard G. Buffett, Sherwood and NoVo Foundations, respectively overseen by his children, Howard, Susan and Peter.
Berkshire said Buffett has made $27.54 bn in donations since 2006 to the five charities, including roughly $21.9 bn to the Gates Foundation.
Image Credits: twitter.com/warrenbuffett