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.
The question for me is what charities and how they are chosen. What demographics are the charities intending to assist, and who are they potentially intending to exclude? Even through charity, billionaires can push agendas and affect who receives privileges and who doesn’t.
Governments are also often guilty of favoring funding towards their favorite causes. Not defending billionaires here, but pouring money into mediatic causes, while ignoring or underfunding less visible causes is definitely a thing.