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.
There comes a certain point where wealth ceases to be a blessing, and managing it becomes a full time occupation. I can respect this decision.
All the more reason to level the playing field, eh?
I would respect it more if I wasn’t so jaded, perhaps. But there’s been just too many charity foundations involved in scandals of one type or another.
So, yes, let’s level the playing field! I’m with you there…
He signed the giving pledge with Bill Gates shortly after its creation.
https://givingpledge.org/