Warren Buffett Donates Over $1.1 Billion Of Berkshire Hathaway Stock, Shares Plans To Give Away His Fortune

The billionaire renewed his Thanksgiving tradition of donating and also shared new details about who will be giving out the rest of his wealth post his demise

Earlier, the entrepreneur said that his three kids would distribute his remaining fortune worth $147.4 billion in the years post his death.

Source : Gates Foundation

Investor Warren Buffett on Monday announced that he is donating more than $1.1 billion of Berkshire Hathaway stock to four of his family’s foundations. The billionaire renewed his Thanksgiving tradition of donating with the move and also shared new details about who will be giving out the rest of his wealth post his demise.

Earlier, the entrepreneur said that his three kids would distribute his remaining fortune worth $147.4 billion in the years post his death. However, now he has chosen successors for them as it is possible that his offspring might die before being able to give it all away, reported AP.

While Buffett didn’t identiy the successors, he said that his kids know all of them and agreed that they would be the appropriate choices for the same.

Sharing a letter to his fellow shareholders, Buffet said, “Father time always wins. But he can be fickle indeed unfair and even cruel sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit.”

“To date, I've been very lucky, but, before long, he will get around to me. 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,” he stated.

The investor said that he still had no interest in establishing a dynasty of wealth in his family and his view is shared by his first and current wives both. Buffett has always maintained that wealthy parents should give enough to their children that they can do anything, but not enough that they can do nothing.

The billionaire over the years has never sold any of his stock in Berkshire and has also resisted wealth and continued to live in the same Omaha home he bought decades ago. “As a family, we have had everything we needed or simply liked, but we have not sought enjoyment from the fact that others craved what we had,” he added.