Warren Buffett Unveils Generous Donation Plan: 99% of Estate to Benefit Charity
Money | June 29, 2024, 2:03 a.m.
Warren Buffett, the renowned investor and Chairman of Berkshire Hathaway, announced plans for the future of his fortune in an exclusive interview with the Wall Street Journal. Buffett revealed that he has established a new charitable trust overseen by his three children, who will have control over his philanthropic efforts after his death. He emphasized the importance of using his wealth to help those less fortunate, stating that his children will need unanimous approval for any donations from his estate. Buffett, known as the "Oracle of Omaha," has donated billions of dollars to charitable causes over the years, with a significant portion going to the Bill and Melinda Gates Foundation. However, he specified that the Gates Foundation will not receive any further funds after his death. In a recent act of generosity, Buffett made his largest annual donation yet, totaling $5.3 billion in shares to various charities. This announcement follows the Berkshire Hathaway Annual Meeting, where Buffett paid tribute to his late business partner, Charlie Munger. At 93 years old, Buffett continues to focus on philanthropy and legacy planning for his vast fortune.