Billionaire investor and Berkshire Hathaway CEO Warren Buffett has given billions of dollars worth of stock to charity in annual gifts each year since 2006. On Monday, Buffett donated approximately $3.4 billion worth of shares to five prominent charities, including the Bill and Melinda Gates foundation.
This year, an unlikely organization also landed a donation from the Oracle of Omaha: a student-run newspaper at the University of Nebraska.
The Daily Nebraskan Editorial Support Fund received 524 shares of class B common stock in Berkshire Hathaway on July 16, according to the company's SEC filings. Based on Monday's closing price of $192 per share, that donation totals $100,608.
Buffett made the donation as part of a fundraising campaign started by the newspaper in January, Daily Nebraskan General Manager Dan Shattil tells CNBC Make It.
Funding to pay the paper's staff of 150 student reporters and editors has typically come from a mix of fees the university collects from students, and self-generated funds through advertising. But, lately, it's grown more difficult to bring in revenue, a debacle many digital media enterprises are facing.
So the student outlet decided to seek donations and set up a fund, to be invested through the University of Nebraska Foundation, in order to finance the senior editorial staff's wages in perpetuity.
"We created this fund to basically guarantee The Daily Nebraskan will always exist, will always have at least a senior staff in place," Shattil says.