06/29/2024 – 18:15
Billionaire Warren Buffet, considered one of the world’s greatest investors, revealed details about his will in an interview with The Wall Street Journal. Almost all of his fortune will be donated to a charitable fund, managed by his daughter and two sons. The trio will have to decide by consensus what to do with the money.
Since 2006, Warren Buffet had already announced that he intended to donate more than half of his fortune during his lifetime. Over the years, he has disposed of more than half of the shares in Berkshire Hathaway, a company in which he took over as CEO in 1970 and which he transformed into one of the most powerful multinationals in the world.
+Billionaire Warren Buffett announces donation of US$5.3 billion in Berkshire shares
Berkshire Hathaway is a holding company, which means it operates as a management company for shares in several other companies. Although it has roots in the textile industry, it owns shares in subsidiaries in multiple areas, such as clothing, insurance, finance, media and food.
Living donations
Much of the money distributed by the billionaire went to the Bill & Melinda Gates Foundation. The latest donation was this Friday, the 28th, in the amount of US$9.93 million. On the same day, donations to four other institutions were announced. Together, the amounts donated on the day reached US$5.3 billion.
The same five institutions have received donations from the investor since 2006, but now he confirms that after his death this flow must stop. It will then be up to his heirs to decide on a philanthropic end for the fortune.
In an interview with the Wall Street Journal, the billionaire said that the decision to leave his will in this way was made after seeing his children mature. Susie Buffett (71) and Howie Buffett (66) are both on the Berkshire board. Peter Buffett (66) is a composer. All three also lead their own charitable foundations.
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