Berkshire Hathaway CEO Warren Buffett shares his estate plan, outlining donations to family foundations and instructions for distributing the remainder of his wealth.
Warren Buffett , the 94-year-old chairman and CEO of Berkshire Hathaway, issued an unexpected message to shareholders, outlining his plans for his massive fortune after his death. In a letter posted on Berkshire Hathaway's website, Buffett announced he would be donating approximately $1.1 billion of his Berkshire shares to his family's four foundations. He stated that his three children would be responsible for gradually distributing the rest of his holdings following his death.
Buffett acknowledged that his children, aged 71, 69, and 66, may not live long enough to complete this distribution, so three potential trustees have been designated to assist. He explained his policy of unanimous decision-making for all foundation matters, shared that he updates his will every few years and keeps it straightforward, and offered advice to others planning their own estate arrangements. Buffett emphasized the importance of open communication with children about inheritance decisions, urging parents to ensure their children understand both the rationale behind their choices and the responsibilities they will inherit
WARREN BUFFETT BERKSHIRE HATHAWAY ESTATE PLANNING PHILANTHROPY INHERITANCE
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