In an open letter to shareholders, on the occasion of the Thanksgiving Daythe magnate announced what he will do with his fortune at the time of his death.
Warren Buffettexecutive director of Berkshire Hathaway and recognized guru of the world of investmentsHe always said that at the time of his death he would donate his fortune. The novelty is that, in an open letter to shareholders, on the occasion of the Thanksgiving Daythe tycoon announced that his three children will be the responsible for managing the charitable legacy his father’s.
“My children, along with their father, have the common belief that dynastic wealthalthough legal and common in much of the world, including the United States, it is not desirable. Furthermore, we have had many opportunities to observe that Being rich does not make you wise or bad.”stated the tycoon.
It is worth remembering that Buffett is the ninth richest person in the worldwith a heritage that exceeds US$120,000 million. This year, Buffett’s fortune increased significantly thanks to the good work of some of his best-known investments such as Manzana.
Warren Buffett’s future inheritance: How will the transfer be made?
“My three children now have between 65 and 70 years. For some years now, their foundations have distributed significant sums, sometimes to the same donee. Generally, however, the three follow different paths. My three children are the executors of my current willas well as the appointed trustees of the charitable trust that will receive more than 99% of my assets in accordance with the provisions of the will. In 2006 they were not fully prepared for this enormous responsibility, but now they are“, stated the famous investor in his letter.
Buffett already converted 1,600 A shares of Berkshire Hathaway in 2,400,000 B shares in order to deliver these shares B to four family foundations: 1,500,000 shares The Susan Thompson Buffett Foundation and 300,000 shares to each of The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation.
Source: Ambito
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