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The Associated Press Reported Gates trust to sell Berkshire shares , the Bill & Melinda Gates Foundation's trust will sell more than half of its nearly 1 million shares of Berkshire Hathaway Inc. stock to comply with federal tax rules, according to a Securities and Exchange Commission filing Thursday.
The Foundation said it will sell 550,000 Class B shares of Berkshire Hathaway, which is run by billionaire investor Warren Buffett, over the next three years beginning April 1. Those shares are now worth $2.39 billion.
In 2006 Warren Buffett pledged to give his wealth to the Gates Foundation in annual gifts until his death. Warren Buffett networth now is about $62 billion.
The Gates Foundation, based in Seattle, is the world's largest philanthropic organization.
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