In a letter to shareholders, Buffett detailed plans for his $147B fortune.
In this Sept. 19, 2017 file photo, Warren Buffett speaks during the Forbes Media Centennial Celebration at Pier 60 in New York.In a letter to shareholders, Warren Buffett revealed that he would be donating more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations. In addition, he detailed plans for distributing his wealth after his death.released Monday on his life and how long he has lived.
In this April 30, 2011 file photo, Warren Buffett, second from right, sits with his kids, from left, Howard, Susie and Peter on the floor of the Berkshire Hathaway shareholders meeting at the Qwest Center in Omaha, Neb.But when Susan died in 2004, with a fortune of $3 billion and 96% of that going to the foundation, she left $10 million to each of their three children.Buffett believes that parents should support their children but do so in a meaningful way.
"The children have now more than justified our hopes and, upon my death, will have full responsibility for gradually distributing all of my Berkshire holdings," Buffet said. "These now account for 99 1⁄2% of my wealth.""There is, however, a downside to my good fortune in avoiding his notice. The expected life span of my children has materially diminished since the 2006 pledge. They are now 71, 69 and 66.
Buffett also reflects on his "lucky streak" dating back to 1930 when he was born as white male in the United States. He mentions his two sisters being promised by the 19th Amendment to be treated equally with males. And he admits to growing in a country that has not yet fulfilled its promises elsewhere.
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