Billionaire investor Warren Buffett has ended donations to the Gates Foundation and will transfer approximately US$6 billion in Berkshire Hathaway stock to four foundations associated with his family.

The 95-year-old Berkshire chairman said Tuesday that he will convert 8,000 Class A shares into 12 million Class B shares before distributing them among the charities.

The Susan Thompson Buffett Foundation, named after his late wife, will receive nine million shares. The Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation will each receive one million shares. The latter three are overseen by Buffett’s children.