Berkshire's Charles Munger Donates Stock Worth Over $20 Million to Pair of LA-Area Schools
Warren Buffet's investing partner and Berkshire Hathaway Vice-Chairman Charles Munger has made a couple of very big donations to a pair of schools in the Los Angeles area, where he resides.
In a filing with the SEC, Munger says he donated 90 shares of Berkshire Class-A stock to the all-girls Marlborough School in Los Angeles. The school's website says its teachers "expect girls to succeed" and use "teaching styles and strategies that work best for girls, encourage risk-taking, and incorporate female role models into the curriculum and extracurricular program."
Munger also donated another 90 shares to the Polytechnic School in Pasadena. Munger's daughter, Wendy, is President of the Polytechnic School's Board of Trustees. Polytechnic describes itself as an "independent, coeducational day school for students in kindergarten through grade 12."
At the current market price, each donation of 90 shares is worth close to $11 million. The filings says the donations were made yesterday (September 13, 2007).
In June, Munger donated $3 million to the University of Michigan Law School for lighting improvements in the school's Law Quadrangle. Munger attended the University of Michigan as an undergraduate in the 1940s..
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