According to information disclosed by Warren Buffett's subsidiary, Berkshire Hathaway, on November 21st local time, Buffett has converted 1600 Class A shares into 2.4 million Class B shares in order to donate approximately $870 million worth of Berkshire shares to four family charitable organizations.
Buffett also stated that his three children are his executors and will become trustees of a charitable trust fund, with over 99% of Buffett's assets being donated to the fund.
According to Forbes magazine, Buffett is currently the fifth richest person in the world, with a wealth of $120.5 billion.
Buffett donated another $866 million
And designate the child as the executor of the will
According to the Associated Press of Finance and Economics, Warren Buffett, the "stock god" at the helm of investment giant Berkshire Hathaway, stated on Tuesday that he has donated approximately $866 million worth of Berkshire Hathaway stocks to four family charitable organizations. This is the latest philanthropic move by this billionaire investor.
Hill Hathaway disclosed in a regulatory document that Buffett donated 1.5 million Berkshire B-shares to the Susan Thompson Buffett Foundation. This foundation is named after his deceased first wife and is dedicated to working in the field of reproductive health.
Buffett also donated an additional 900000 B-shares, evenly distributed to the charitable organizations managed by his children Howard, Susan, and Peter, namely the Howard G. Buffett Foundation, Sherwood Foundation, and Novo Foundation.
The Howard G. Buffett Foundation focuses on reducing hunger, reducing conflict, combating human trafficking, and improving public safety. The Sherwood Foundation supports non-profit organizations in Nebraska, while the Novo Foundation has launched initiatives targeting girls and women.
Buffett also sent a rare letter to shareholders, promising once again that over 99% of his wealth will be donated to charitable organizations, and his children will be the executors of his will.
Buffett: I am playing extra time
According to China Securities News Agency, although Buffett has been limiting his influence on Berkshire for many years, he has never publicly expressed his willingness to resign, including after being diagnosed with prostate cancer in 2012. Buffett said in the letter, "I am 93 years old and I feel great, but I am fully aware that I am playing extra time
For many years, Buffett has often mentioned his success in maintaining health, even though his dietary habits are only at the level of six year olds, including a love for junk food and sugary drinks. He once said, "I think happiness has a huge impact on... longevity. When I eat hot fudge, sundae ice cream, or drink cola, I feel happier
It is reported that 61-year-old Berkshire Vice Chairman Greg Abel will replace Buffett as the CEO of Berkshire, while Howard Buffett will become the non-executive chairman. Buffett wrote, "We have a suitable CEO to replace me and a suitable board of directors
According to Xinhua News Agency on August 18th, Buffett donated nearly $27 million in stock of his Berkshire Hathaway subsidiary to a charity.
The Bill and Melinda Gates Foundation in the United States and the four charitable organizations run by the Buffett family receive donations from Buffett every year. According to the Associated Press, they have received over $51 billion in donations since 2006.