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Warren Buffett has amended his will to include his largest ever annual donations to five charities.
Buffett said: The Wall Street Journal Buffett announced on Friday that he will give almost all of his estimated $130 billion fortune to a new charitable trust after his death, which his children, Susie, Howie and Peter Buffett, will jointly lead and must unanimously decide where the money goes.
“I’m very happy with the values of my three kids and have 100 percent confidence that they’ll make things work,” Buffett told The Wall Street Journal.
Warren Buffett. Photographer: Christopher Goodney/Bloomberg via Getty Images
Berkshire Hathaway said its new will will give more than 99% of Buffett’s fortune to charity. Press StatementBuffett Signed In 2006, he pledged to give away at least 99% of his fortune to charity during his lifetime or after his death.
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Buffett currently gives annually to five organizations: the Bill & Melinda Gates Foundation, the Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, the Susan A. Buffett Foundation and the Novo Foundation.
The Susan Thompson Buffett Foundation is named after Buffett’s late first wife and is chaired by her daughter, while the other three foundations are run by each of Buffett’s children.
The Bill & Melinda Gates Foundation received the lion’s share of the donation, 9.93 million shares. Buffett gave 993,035 shares to the Susan Thompson Buffett Foundation and 695,122 shares to each of the other three foundations.
Buffett told The Wall Street Journal that he will only make annual donations to five organizations for the rest of his life.
“When I die, the Gates Foundation will not get any money,” said Buffett, who stepped down from the Gates Foundation’s board of directors in 2013. 2021he told the magazine.
Related: Melinda French Gates resigns from the Gates Foundation
Buffett began making annual donations to these foundations in 1999. 2006His contribution this year was Best So far, 13 million Berkshire Hathaway Class B shares, valued at $5.3 billion, have been acquired.
Over the past 18 years, Buffett has donated to these organizations: $55 billion.
Friday’s record $5.3 billion donation brings Buffett’s net worth to nearly $130 billion, moving him from the eighth to the 10th richest person in the world. Forbes Estimate.