Warren Buffett reveals unexpected plan for his 1 149 billion fortune
Kyiv • UNN
Billionaire Warren Buffett announced his intention to give 99.5% of his fortune to charity. The funds will be received by four family foundations that will be managed by his children, but they themselves will not be able to work in the charity foundation.
The investor will donate his billions to charity, including donating additional Berkshire shares to four family foundations.
Reports UNN with reference to Business Insider.
Warren Buffett, a well-known investor and CEO of Berkshire Hathaway, plans to leave 99.5 percent of his remaining fortune to a charitable foundation run by his daughter and two sons.
In a surprise message to Berkshire shareholders, Buffett said the gifts would reduce his personal stake to 206,363 category A shares worth.149 billion. He has now given away 56.6% of his shares, since promising 99% of them to good causes in 2006.
Among the details of the decision, it became known that Buffett will donate additional Berkshire shares for 1 1.14 billion to four family foundations.
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His three children, Susie (71), Howard (69) and Peter (66), are unable to serve in the charity. But three potential successors have been identified, each younger than the tycoon's children.
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Buffett has been the head of Berkshire Hathaway, headquartered in Omaha, since 1965. The company, which owns insurance company Geico and brands such as see's Candies and Dairy Queen, earlier this year became the first non-tech company to be valued at оцінюється 1 trillion.