Warren Buffett Donates $1.14 Billion to Foundations

Warren Buffett has announced plans to donate approximately $1.14 billion of Berkshire Hathaway stock to family foundations, continuing his commitment to philanthropy that began in 2006. The distribution includes 1.5 million shares to the Susan Thompson Buffett Foundation and 300,000 shares each to the foundations established by his three children. At 94, Buffett emphasized the importance of not creating 'dynastic' wealth and has appointed three potential successor trustees to oversee the charitable trust if his children are unable to do so. He has given away 56.6% of his wealth and aims to transfer 99% of his estate to charitable causes before he passes. Buffett's legacy plan reflects his trust in his children, who are now in their late 60s and early 70s, while acknowledging that the wealth may take time to deploy after his death. His recent letter highlighted the need for responsible wealth distribution amid changing philanthropic landscapes.