In 2010, Warren Buffett joined Bill and Melinda Gates in launching the ‘Giving Pledge’. He has promised to donate his wealth during his lifetime or after his death.
In 2010, Warren Buffett launched the ‘Giving Pledge’ along with Bill Gates and Melinda French Gates. (AP file)
World-renowned investor and chairman of Berkshire Hathaway, Warren Buffett is known for his philanthropic efforts. On Monday, Buffett announced a donation of more than $1.14 billion in Berkshire Hathaway stock to four family foundations. The American billionaire also shared the details of his estate plan.
The 94-year-old investor will convert 1,600 Berkshire Class A shares into 2.4 million Class B shares, the company said in a statement. He will then give 1.5 million of those shares to the Susan Thompson Buffett Foundation, named after his late wife, and 300,000 shares to each of his children’s foundations: the Sherwood Foundation, the Howard G. Buffett Foundation, and the Novo Foundation. will give to
In 2010, Buffett launched the ‘Going Pledge’ with Bill Gates and Melinda French Gates. Through this pledge, he pledged to donate his wealth during his lifetime or after death. Four years ago, he began making substantial donations to the Gates Foundation and foundations associated with his children.
The American billionaire has decided who will inherit his fortune after his death. However, he has not revealed the identity of his successor. He said that his children are aware of his decision and support it. The legendary investor reiterated his longstanding stance against creating family wealth in his family. Buffett has three children: Susie, Howard and Peter.
According to the Bloomberg Billionaires Index, Warren Buffett’s net worth is $150.2 billion. This makes him the seventh richest person in the world.