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.

  • Crackhappy@lemmy.worldEnglish
    491·
    14 hours ago

    I was about to say, they should just pay taxes, after all this is what government is for.

    • finitebanjo@lemmy.world
      2·
      5 hours ago

      Yeah, I was very disappointed in Bill Gates for being pro-philanthropy but against higher taxation. That said, Gates and Buffet don’t get the final say. The American people just elected an anti-tax fraudulent billionaire.