Public announcements from Berkshire Hathaway or official statements from Warren Buffett or his estate

Warren Buffett Donates $1.14B to Family Foundations, Plans Distribution of $147B Fortune

Nov 25, 2024, 06:00 PM

Warren Buffett has announced plans to donate approximately $1.14 billion worth of Berkshire Hathaway shares to four family foundations. This donation aligns with a charitable pledge he made nearly two decades ago, emphasizing his commitment to philanthropy over creating a family wealth dynasty. Buffett has also outlined the future distribution of his $147 billion fortune after his death, stating that his children will have full responsibility for gradually distributing all of his Berkshire Hathaway holdings. He has designated three potential successor trustees to oversee his philanthropy in the event his children cannot fulfill this role. This move reduces his Berkshire Hathaway Class A shares by 56.6% since his 2006 pledge, with the conversion of 1,600 Class A shares into 2.4 million Class B shares for donation.