He explicitly mentioned that his support of the Gates Foundation would leave the scene with him.
Warren Buffett, philanthropist and chairman of Berkshire Hathaway, is among the world's top billionaires, is cutting his ties with the Bill & Melinda Gates Foundation. According to Fortune, the 93-year-old American billionaire is estimated to be worth $129 billion (approximately Rs 1,07,54,00,11,50,000), and during the last 15 years, he has given more than $39 billion to the foundation. Buffett informed the Wall Street Journal that he has revised his will once more -- and that he does not plan to continue donations to the Bill & Melinda Gates Foundation after he dies. He declared that he would place his wealth in a new charity trust that his three children would manage.
“The Gates Foundation has no money coming after my death,” he confirmed.
Buffett revealed to the Journal that he has revised his will multiple times. He created the most recent version because he believes his kids will uphold his beliefs and manage his riches. Every child of Buffett has established a charitable institution.
“I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out,” Buffett told the Journal.
In the past, Buffett had disclosed that his will specified that the Bill & Melinda Gates Foundation and the four family-affiliated charities—the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation—would receive more than 99% of his estate for charitable purposes.
Buffett appears to be intending to continue giving to the Gates Foundation during his lifetime, though, at least for the time being.
Buffett is converting around 9,000 Class A shares into more than 13 million Class B shares, according to Berkshire Hathaway, which announced this on Friday. The four Buffett family organisations will receive the remaining shares, with around 9.3 million going to the Bill & Melinda Gates Foundation Trust.
“Warren Buffett has been exceedingly generous to the Gates Foundation through more than 18 years of contributions and advice,” Mark Suzman, the foundation’s chief executive, said in a statement to CNN. “We are deeply grateful for his most recent gift and contributions totaling approximately $43 billion to our work.” (Melinda announced in May that she would leave the organization, and her last day was June 7 — but the foundation has not yet changed its name.)
Buffett gave the four organisations his family runs roughly $870 million last year and about $750 million in 2022.
Buffett now holds 2,586 Class B shares and 207,963 Class A shares of Berkshire Hathaway after the recently disclosed donations, the company stated.
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