The investing legend continues to give away his massive fortune, and again this year just before Thanksgiving.
Warren Buffett’s most recent donations came in the form of shares from the investment company Berkshire Hathaway, of which the investor is a majority owner, to four charities owned by his family.
Since 2006, Buffett has donated more than half of his Berkshire Hathaway stock to institutions. Also last year, he distributed just before Thanksgiving.
This year he will donate $870 million. This corresponds to more than NOK 9.3 billion at today’s krone exchange rate.
Read on E24+
Administrators’ shipping preferences
Buffett writes In a message to shareholders He and the children share the opinion that prosperity in family dynasties is undesirable.
– We also agree that capitalism – whatever its weaknesses, among which are the wide differences in wealth and political influence that are more or less arbitrarily distributed among its citizens – has worked miracles and continues to work miracles, wrote the Oracle of Omaha.
In the letter, he repeated previous promises that more than 99 percent of his fortune would go to charity, which would be provided by children.
Warren Buffett’s message to shareholders: – Over time, only two winners are needed to achieve success
– I feel good
1.5 million B shares go to the Susan Thompson Buffett Foundation, named after his wife. 900,000 goes to foundations run by his children: the Howard G. Buffett Foundation, the Sherwood Foundation, and the Novo Foundation.
The three child-run organizations work on topics such as fighting hunger, human trafficking and working for the rights of girls and women.
Read on E24+
– If everyone lived like him, the growth of the global economy would stop
Buffett, 93, has taken less responsibility at Berkshire Hathaway in recent years. However, he did not publicly announce his desire to step down, even after being diagnosed with prostate cancer in 2012, he writes. Reuters.
“I feel good, but I am fully aware that I am overtime,” he writes in the letter.
I earned a lot
Berkshire Hathaway and Buffett have also made good money recently. In the third quarter report, the company appears to have no less than $157.24 billion in cash.
According to Bloomberg Billionaire Index Warren Buffett is the ninth richest person in the world.
Buffett has run Berkshire Hathaway since 1965.
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”