Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death.

Summary

Warren Buffett gave $1.1 billion in Berkshire Hathaway stock to family foundations and detailed plans for distributing his $147 billion fortune after his death.

His three children will oversee giving the remainder within 10 years, with designated successors in case they predecease him.

Buffett, 94, reaffirmed his belief in avoiding dynastic wealth, favoring philanthropy instead.

Over the years, he has donated $55 billion to the Gates Foundation but plans to shift focus to his family’s foundations.

Buffett continues leading Berkshire Hathaway while preparing Greg Abel as his successor.

  • DeadWorldWalking@lemmy.world
    112·
    29 days ago

    But if they donate enough then we will never force them to give up all their excess wealth.

    And they like having excess wealth, a lot, like most rich people have hoarding mental disorders.

    None of them really want to better society, they just want us to not rip all their skin off and redistribute their wealth so our economies benefit everyone again.

    • finitebanjo@lemmy.world
      5·
      29 days ago

      Nah, I don’t like that. That’s bad. Everybody should have to pay a share to fund public available necessities and uplift people as equals. It’s not optional, it being optional demonstrably does not work, and even if it did we shouldn’t rely on faith and goodwill.