Warren Buffett, a highly successful investor and the fifth richest man in the world, has shared his intentions for Berkshire Hathaway and his wealth after his death. In a letter posted on the company’s website, he announced that he had donated millions of shares in Berkshire Hathaway to four family-affiliated charity trusts.
The 93-year-old converted 1,600 Class A shares into 2,400,000 Class B shares, with three foundations receiving 300,000 shares each and one foundation receiving 1,500,000 shares. In the letter to shareholders, he stated that his wealth will mostly go to his charity trust and that his three children will act as executors of his will.
Buffett also mentioned that his children share his belief that dynastic wealth is not desirable and confirmed that they are prepared to take on the responsibility of managing his wealth. He expressed confidence in the future of Berkshire Hathaway, stating that the company is well-equipped to thrive in his absence.
