2023-11-29 08:11:47
Warren Buffett, the fifth richest man in the world, donates his assets following his death. Warren Buffett has announced that he will donate billions of shares of his multinational company Berkshire Hathaway to four charitable trusts linked to his family.
Warren Buffett made the announcement through the company’s website, the Oracle of Omaha. The 93-year-old converted 1,600 Class A shares into 2,400,000 Class B shares, according to a regulatory filing. Among those shares, Howard G. The Buffett Foundation, the Sherwood Foundation and the Novo Foundation each received 300,000 shares, and the Susan Thompson Buffett Foundation received 1,500,000 shares.
Warren Buffett said in a Nov. 21 letter to shareholders that he will keep the promises he made in 2006 and continue to do so.
In the letter, Buffett revealed some details regarding how he would manage his wealth and asked that his three children make decisions together. With more than 380,000 employees, Berkshire Hathaway has grown to a market capitalization of more than $780 billion. He said that mistakes will be made in his absence but the organization will thrive
Last Updated Nov 29, 2023, 1:41 PM IST
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