“Warren Buffett revealed an unexpected plan for his $149 billion fortune Billionaire Warren Buffett announced his intention to give 99.5% of his fortune to charity. The funds will go to four family foundations, which will be managed by his children, but they themselves will not be able to work in the charitable foundation.”, — write on: unn.ua
Transfers UNN with reference to Business Insider.
Warren Buffett, the well-known investor and CEO of Berkshire Hathaway, plans to leave 99.5 percent of his remaining fortune to a charitable foundation that will be managed by his daughter and two sons.
In his surprise message to Berkshire shareholders, Buffett said the gifts would reduce his personal stake to 206,363 Class A shares, worth $149 billion. So far, he has given away 56.6% of his shares, since pledging 99% of them to good causes in 2006.
Among the details of the decision, it was revealed that Buffett will donate $1.14 billion worth of additional Berkshire shares to four family foundations.
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His three children, Susie (71), Howard (69) and Peter (66), will not be able to serve on the charity. But three potential successors have been identified, each of whom is younger than the tycoon’s children.
For reference
Buffett has headed Berkshire Hathaway, headquartered in Omaha, since 1965. The company, which owns insurance company Geico and brands such as See’s Candies and Dairy Queen, earlier this year became the first non-tech company to be valued at $1 trillion.
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