Berkshire Hathaway Chairman and American businessman, investor and philanthropist Warren Buffett has shared his biggest plan yet for what will happen to his estate after his death. He also announced that he will continue to donate his staggering wealth. 94 year old Buffett has written a letter of about 1,300 words to the shareholders in this regard. He reflected on the nature of the death while discussing it in the letter, CNN reported, in which he mentioned how he once hoped his late first wife would outlive him and decide how his estate would be distributed. Go.
Know what was said about your children
According to the news, Buffett wrote that he hopes his three children – Susie, Howard and Peter Buffett, who are in their 60s and 70s – will live long enough to decide where their father's estate will go. Will be donated to a charitable cause. When Buffett passes away, they will be tasked with unanimously deciding how his estate will be distributed.
Three possible successor trustees appointed
Buffett also appointed three potential successor trustees in case his children are not able to determine the fate of his estate, Buffett said. However, he did not mention his name in the letter. Buffett further writes that since the 2006 pledge, the expected life span of my children has materially decreased. I never aspired to create a dynasty or make any plans beyond having children.
Made this announcement regarding shares
Buffett also announced that he was converting 1,600 Class A shares of his company into 2.4 million Class B shares, which have fewer voting rights. Of those shares, 1.5 million shares will be donated to the Susan Thompson Buffett Foundation, named after his late first wife, and 300,000 shares will be donated to three other entities led by his children – all worth about Is 1.2 billion dollars.
The remaining property will be donated after death
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