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Warren Buffett is expediting the transfer of his $149 billion estate to charity before handing over the baton to the 63-year-old Greg Abel who will take over as the CEO of Berkshire Hathaway starting 2026.
Buffett retains the largest single stake in Berkshire Hathaway, mostly in Class A shares valued at around $751,000 each.
In the latest philanthropic move, he converted 1,800 Class A shares into roughly 2.7 million Class B shares—worth over $1.3 billion—and donated them to four family foundations: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation.
“The acceleration of my lifetime gifts to my children’s foundations in no way reflects any change in my views about Berkshire’s prospects,” the 95-year-old Wall Street legend said.
After running the company for six decades. Buffett will remain chairman, continuing to guide the company through its transition and ensure his children are able to manage the entirety of his estate. Given their own advancing ages, before outside trustees assume stewardship.
"Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior," Buffett said in the letter.
Read more: From Nikhil Kamath to Lachman Das Mittal, meet India's top philanthropists
Buffett retains the largest single stake in Berkshire Hathaway, mostly in Class A shares valued at around $751,000 each.
In the latest philanthropic move, he converted 1,800 Class A shares into roughly 2.7 million Class B shares—worth over $1.3 billion—and donated them to four family foundations: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation.
“The acceleration of my lifetime gifts to my children’s foundations in no way reflects any change in my views about Berkshire’s prospects,” the 95-year-old Wall Street legend said.
Warren Buffett, known as the “Oracle of Omaha,” built his fortune through decades of disciplined investing via Berkshire Hathaway. He is admired worldwide for his long-term investment strategies and modest lifestyle despite his immense wealth. (Image: Reuters)
After running the company for six decades. Buffett will remain chairman, continuing to guide the company through its transition and ensure his children are able to manage the entirety of his estate. Given their own advancing ages, before outside trustees assume stewardship.
"Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior," Buffett said in the letter.
Read more: From Nikhil Kamath to Lachman Das Mittal, meet India's top philanthropists
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