Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death.

Summary

Warren Buffett gave $1.1 billion in Berkshire Hathaway stock to family foundations and detailed plans for distributing his $147 billion fortune after his death.

His three children will oversee giving the remainder within 10 years, with designated successors in case they predecease him.

Buffett, 94, reaffirmed his belief in avoiding dynastic wealth, favoring philanthropy instead.

Over the years, he has donated $55 billion to the Gates Foundation but plans to shift focus to his family’s foundations.

Buffett continues leading Berkshire Hathaway while preparing Greg Abel as his successor.

  • ColeSloth@discuss.tchncs.de
    15·
    25 days ago

    He had nothing to do with stealing it, though. I had stock in AMD for a while and it made some money. Did that make the people at amd poor? In that company’s case they would have filed for bankruptcy over 15 years ago. Investors kept the business alive. Same for Apple in the 90’s.

    Yes, all most really care about is making money, but that doesn’t change if there is or isn’t a stock market.