06/29/2024 – 20:51
Billionaire Warren Buffett, chairman of the board and CEO of investment firm Berkshire Hathaway, has said that after his death, his fortune will be transferred to a charitable trust that will be managed by his daughter and two sons. The statement was made in an interview with the American newspaper The Wall Street Journalin which he gave more details about plans for his inheritance.
The 93-year-old investor, who was once the richest man in the world and who currently remains in the top ten of the Forbes billionaires ranking, has a fortune of almost US$130 billion.
During his lifetime, Buffett has directed part of his resources to the Bill & Melinda Gates Foundation, to which he donated several billion dollars. However, upon his death, these donations will cease.
Born in Omaha, in the state of Nebraska, in the Midwest of the United States, he has committed, in recent decades, to donating more than half of his fortune during his lifetime to philanthropic causes. This goal would have already been achieved, since more than half of the shares he held in Berkshire, which he took over in 1965, have already been donated.
“There are 8 billion people in the world, and my children and I are among the luckiest 100,000, or 1%, or something like that. There are many ways to help people,” he told the newspaper.
According to the investor, decisions in the new fund will need to be taken unanimously by the children: Susie, Howie and Peter Buffett. According to the patriarch, he will not leave definitions for the use of resources, but his children know how he thinks about philanthropy.
He also said that he changed his will several times, and arrived at the current plan after noticing the maturity of his children over the years. Susie is 71, Howie is 69, and Peter is 66.
Buffett said he has confidence in his children and that when he is “six feet below the surface,” he will not be able to “do a better job than three people who will be on the surface” and whom he trusts “completely.”
On Friday the 28th, the Berkshire Hathaway group announced a new round of donations to the Bill & Melinda Gates Foundation, which received shares valued at US$4 billion.
Another $400 million in shares would be given to the Susan Thompson Buffett Foundation, run by daughter Susie and named after Warren’s first wife, who died in 2004. An additional $280 million in shares would be given to other family-related philanthropies .
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