Warren Buffett unveils plots for his money after passing away
(MENAFN) Warren Buffett, the renowned billionaire investor and CEO of Berkshire Hathaway, has disclosed his comprehensive plans for the distribution of his vast fortune after his death. In an interview published by the Washington Post on Saturday, Buffett revealed that nearly all of his estimated USD130 billion wealth, primarily held in berkshire hathaway stock, will be directed towards a charitable trust managed by his three children.
Approaching his 94th birthday in August, Buffett emphasized that his philanthropic efforts, notably his substantial contributions to the Bill & Melinda Gates Foundation (BMGF), will cease following his passing. Since his decision in 2006 to commit significant portions of his wealth to charity, Buffett has been a pivotal donor to the BMGF, contributing a staggering $39.3 billion to date, according to the foundation's records.
Recently, Berkshire Hathaway announced another substantial donation of USD4 billion in shares to the BMGF as part of Buffett's ongoing commitment to global health improvement and poverty alleviation, core missions of the foundation established by Microsoft co-founder Bill Gates and his former wife.
While Buffett has already donated more than half of his Berkshire Hathaway shares during his lifetime, he has specified that his contributions to four other foundations will continue only while he is alive. Posthumously, the remainder of his wealth will be entrusted to a trust overseen by his two sons and daughter. They will have sole discretion over how the funds are allocated for charitable purposes, ensuring Buffett's legacy of philanthropy endures beyond his lifetime.
Buffett's philanthropic strategy underscores his dedication to making a lasting impact on global issues, prioritizing healthcare improvements and poverty reduction initiatives through strategic charitable giving. His planned transfer of wealth aims to sustain and expand the philanthropic efforts that have defined his legacy, reinforcing his commitment to societal betterment on a global scale.
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