Warren Buffett Changes His Will Again! Billionaire REVEALS What Will Happen To His Fortune After Death
Date
6/30/2024 5:00:23 AM
(MENAFN- AsiaNet News) Warren Buffett has revised the plans for his considerable fortune after his death.
The Wall Street Journal was informed by Buffett, 93, the chairman of Berkshire Hathaway, that he had revised his will and would no longer make posthumous gifts to the Bill & Melinda Gates Foundation.
Rather, he will give his money to a brand-new charity trust that his three kids will run. "After my passing, the Gates Foundation will not receive any funding," Buffett informed the Journal.
Buffett stated that he has made several amendments to his will, the most recent ones being driven by his faith in his children's moral character and ability to allocate his fortune wisely. Every one of his offspring own a charitable organisation.
"I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out," Buffett stated.
In the past, Buffett has declared that the Bill & Melinda Gates Foundation and the four family-affiliated charities-the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation-would spend more than 99% of his inheritance for charitable purposes.
Buffett, whose will becomes public upon his death, first sketched out a plan for what would become of his wealth in November, naming the three as executors and trustees.
As of right moment, it appears that Buffett will keep making lifetime contributions to the Gates Foundation.
Last year, Buffett donated about $870 million to his family's four charities, and around $750 million to them in 2022. Following these newly announced donations, Buffett owns 207,963 Berkshire Hathaway Class A shares and 2,586 Class B shares, with the total value of these shares being roughly $128 billion.
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