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.

  • antiykns@thelemmy.clubEnglish
    1·
    1 month ago

    “Charities” have been part of the rich’s soft power forever. Go against the rich’s interest and they will not give it to you.

    • halfeatenpotato
      1·
      1 month ago

      I completely agree. I’m not saying it makes them good people or negates any of the insurmountable negative they bring to our society and world.