Abhitesh
Before Thanksgiving, Warren Buffet told the press on Tuesday that he had given about $876 million (₹7,250 crore) worth of Berkshire Hathaway shares to charities run by his children.
The gifts are 2.4 million Class B shares of Berkshire Hathaway stock. The Susan Thompson Buffett Foundation, which is named after his late wife, will get the 1.5 million shares. Additionally, his children-run charities The Sherwood Foundation, The Howard G. Buffett Foundation, and The NoVo Foundation each receive 0.9 million shares equally.
According to the CEO of Berkshire Hathaway Inc., his children and their father both think that dynastic wealth is not desired, even though it is legal and common in many places, including the United States. He said this in a Thanksgiving letter to shareholders.
The Bloomberg Billionaires Index lists Warren Buffett as the ninth-richest person in the world, with a net worth of $120.8 billion. This year, he has seen his wealth grow by $13.3 billion.
In the past, Buffett has given money to these organizations and the Bill and Melinda Gates Foundation every summer. It’s the second year in a row that Buffett has given extra gifts to family charities around Thanksgiving.
Buffett talked about his plans for his children to be managers of a charitable trust that would receive 98% of his wealth after he dies. He claimed that everyone will be able to see how he donates his money to charity.
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The 93-year-old billionaire said he was feeling “good but fully aware I am playing in extra innings.” He emphasized his commitment to simplicity by saying that his assets will be distributed in a simple will that can be seen at the Douglas County Courthouse in Omaha, Nebraska, where he lives.
