• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Warren Buffett gives away another $5.3 billion, says his children will manage estate
Editor's Pick

Warren Buffett gives away another $5.3 billion, says his children will manage estate

by June 28, 2024
by June 28, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Warren Buffett on Friday made his biggest annual donation to date, giving $5.3 billion worth of Berkshire Hathaway shares to five charities.

The legendary investor, who’s turning 94 in August, converted 8,674 of his Berkshire Class A shares to donate more than 13 million Class B shares, according to a statement Friday. A total of 9.93 million shares went to the Bill & Melinda Gates Foundation, with the rest going to the Susan Thompson Buffett Foundation, named for his late first wife, and the three charities led by his children Howard, Susan and Peter Buffett.

The “Oracle of Omaha” has pledged to give away the fortune he built at Berkshire, the Omaha, Nebraska-based conglomerate he started running in 1965. Buffett has been making annual donations to the five charities since 2006.

After Friday’s donations, Buffett owns 207,963 Berkshire A shares and 2,586 B shares, worth about $130 billion.

In an interview with The Wall Street Journal, Buffett clarified that after his death, the enormous fortune he amassed from building the one-of-a-kind conglomerate will be directed to a new charitable trust overseen by his three children.

“It should be used to help the people that haven’t been as lucky as we have been,” he told the Journal. “There’s eight billion people in the world, and me and my kids, we’ve been in the luckiest 100th of 1% or something. There’s lots of ways to help people.”

Buffett has previously said his three children are the executors of his will as well as the named trustees of the charitable trust that will receive 99%-plus of his wealth.

He told the Journal that the Bill & Melinda Gates Foundation will no longer receive donations after his death. Buffett resigned as a trustee at the Gates Foundation in June 2021 in the midst of Bill and Melinda Gates’ divorce.

At Berkshire’s annual meeting in May, Buffett spoke candidly to shareholders about a future when he’s no longer at the helm, appearing solemn at times as he pondered his advanced age and reflected on his late friend and business partner Charlie Munger.

Greg Abel, vice chairman for noninsurance operations at Berkshire, has been named Buffett’s successor and has taken on most of the responsibility at the conglomerate.

Buffett previously said his will will be made public after his death.

“After my death, the disposition of my assets will be an open book — no ‘imaginative’ trusts or foreign entities to avoid public scrutiny but rather a simple will available for inspection at the Douglas County Courthouse,” Buffett said in November.

This post appeared first on NBC NEWS
You Might Also Like
  • Pepper Consumer IoT Platform and Notion, Comcast’s InsurTech Business Unit, Combine to Create a Leading IoT Platform Company
  • Regional bank stocks struggle amid fears of Silicon Valley Bank contagion
  • Walmart launches new grocery brand as it tries to hang on to inflation-fueled growth
  • Why the United Auto Workers want big raises
Share
0
FacebookTwitterPinterestWhatsapp

previous post
NFL hit with $4.8 billion in damages over ‘Sunday Ticket’ antitrust case
next post
Key fed inflation gauge cools to its slowest rate in over three years

You may also like

Walmart pulls back on DEI efforts, removes some LGBTQ merchandise...

November 26, 2024

Job growth totals 236,000 in March, near expectations as hiring...

April 11, 2023

The U.S. added 199,000 jobs in November and the unemployment...

December 9, 2023

Boeing’s Starliner losses top $2 billion after spacecraft program reports...

February 5, 2025

A government shutdown could really stress out the air travel...

September 29, 2023

Here’s when the 2024 Social Security cost-of-living adjustment will kick...

December 20, 2023

Judge blocks Albertsons-Kroger $25 billion supermarket merger

December 11, 2024

Here’s what has driven the Dow rally to 40,000, and...

May 18, 2024

Starbucks union votes to authorize strike ahead of last scheduled...

December 18, 2024

Pod Group, SODAQ, and Lufthansa Industry Solutions launch the first...

January 4, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025
    • Use This Multi-Timeframe MACD Signal for Precision Trades

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,185 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,065)
    • Investing (538)
    • Stock (2,529)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against...

      May 7, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,065)
    • Investing (538)
    • Stock (2,529)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Bloomberg plans to integrate GPT-style AI...

    April 15, 2023

    Matthew Perry reportedly got $20 million...

    November 6, 2023

    October inflation report expected to show...

    November 14, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here