Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death.

Summary

Warren Buffett gave $1.1 billion in Berkshire Hathaway stock to family foundations and detailed plans for distributing his $147 billion fortune after his death.

His three children will oversee giving the remainder within 10 years, with designated successors in case they predecease him.

Buffett, 94, reaffirmed his belief in avoiding dynastic wealth, favoring philanthropy instead.

Over the years, he has donated $55 billion to the Gates Foundation but plans to shift focus to his family’s foundations.

Buffett continues leading Berkshire Hathaway while preparing Greg Abel as his successor.

  • ColeSloth@discuss.tchncs.de
    13·
    21 days ago

    Yeah…rail workers average $74k a year and get 30 days vacation a year. What do you get?

    *Edit:Also, I did a bit of digging. He does now own one railroad company. He only got it 14 years ago. He didn’t make his money as one of the railroad tycoons.

      • ColeSloth@discuss.tchncs.de
        13·
        21 days ago

        Yeah, must be great to be white collar. It took me loads of training and certifications and ongoing certs to make far less.

        Thing is, corporations will and have always tried making as much as possible. That isn’t Warren’s fault. He just didn’t do anything to fix it. The reason he and all these other billionaires can do this is because our shit government has undone taxes on the wealthy for the past 65 years. Our crooked government is to blame for the massive disparity. Not the guy who threw money at company’s he thought would continue to prosper. He’s just a symptom if he wasn’t involved with paying off and bribing the government. No idea if he has or not, there.

          • ColeSloth@discuss.tchncs.de
            11·
            21 days ago

            I’m all for taxing the rich and universal Healthcare. As for money, it sadly won’t ever happen in my timeframe. Been a firefighter and emt for over 15 years. The public wants their taxes low. If I were making 74k I’d practically feel like a millionaire.