Warren Buffett reveals details of his will. Check Berkshire Hathaway owner net worth
Warren Buffett has shared details about his will as the legendary investor is donating shares of Berkshire Hathaway to five foundations, including Bill and Melinda Gates Foundation Trust. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. Buffett has also revealed reason behind the growth in the wealth. He said that nothing extraordinary has occurred at Berkshire but simple and generally sound decisions, the American tailwind and compounding effects produced his current wealth.
Warren Buffett Net Worth
The bargain-hunting approach has helped Warren Buffett amass a fortune worth about USD 145 billion, with basically all of it in Berkshire Hathaway's stock. "Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth," Buffett said in a statement, as per an AP report.
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Buffett's Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett stated.
Warren Buffett Donation to Bill and Melinda Gates Foundation Trust
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Warren Buffett is donating USD 6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received. Buffett said the shares of Berkshire Hathaway will be delivered on Monday.
Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its stock.
Those shares have a lower and easier-to-digest price tag than the company's original Class A shares, and each of the B shares was worth USD 485.68 at their most recent close on Friday. Berkshire Hathaway's Class B stock has climbed 19.1 per cent over the last 12 months, topping the broad US stock market's return of 14.1 per cent, including dividends.
The largest tranche is going to the Bill and Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation will each receive 660,366 shares.
Buffett made waves a year ago when he said he plans to cut off donations to the Bill and Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune.
FAQs
Q1. What does Warren Buffett's will reveal?
A1. Warren Buffett's Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett stated.
Q2. What is Warren Buffett's net worth?
A2. Warren Buffett amass a fortune worth about USD 145 billion.
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