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Warren Buffett has long touted the importance of giving these needs – and after donating nearly half of his fortune this week, it seems like the billionaire is more than willing to put his money to his square.
Buffett, 87, donated more than $ 3.4 billion worth of Berkshire Hathaway Inc. shares to five charities, representing the largest donation that has been made. he did as part of his attempt to donate his fortune.
Most of the funds went to the Bill & Melinda Gates Foundation, while the rest was distributed between Buffett's own foundation, named after his first wife Susan, and the charitable organizations run by his children, Susan, Howard and Peter.
Each of Buffett's three children runs his own foundations. Susan Buffett leads the Sherwood Foundation, which promotes fairness through social justice to improve life in Nebraska
Howard Buffett leads the Howard G. Buffett Foundation, which works to improve the living standards of the poor and marginalized . Peter Buffett, in partnership with his wife, Jennifer Buffett, has launched the NoVo Foundation, which focuses on advancing the rights of girls around the world.
A Long-Standing Tradition
Since 2006, Warren Buffett has donated more than $ 30.9 billion to separate charities, with approximately $ 24.5 billion to the Gates Foundation over the years, according to Reuters. Becoming a Subscriber
The billionaire's annual tradition of giving a lump sum stems from a long-standing belief in sharing wealth with those in need, rather than keeping it for oneself and oneself. heirs.
known as the "Oracle of Omaha," outlined his plans at the recent Forbes 400 summit on philanthropy in San Francisco last month.
"Every Berkshire share I own will be diverted into philanthropy 10 years after my estate is executed for future philanthropists who can see future needs," Buffett told his audience, according to Forbes.
"I might be able to think outside the box, but when the box is 6 feet deep, I'm not so sure," said the billionaire, whose multinational conglomerate owns more than 60 companies, including the insurance company Geico. Duracell manufacturer.
Family Wealth
Buffett has long suggested that while he intends to leave some of his fortune to his children, this will be only a small part of the sum.
"You should leave your children enough so that they can do anything, but not enough to do nothing," he advised at the summit
. The philanthropist said that he also planned to be open with his children on the contents of his will, saying, "Why surprise them after" They are already dead "
" They have two things to decide . First, do they understand their responsibilities, and second, they think that what I've done is right, "said Buffett
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The billionaire, who co-founded Giving Pledge with Bill and Melinda Gates in 2010, is already committed to donating nearly all of his net worth of $ 82.6 billion to charitable initiatives, including those of his children
The Giving Pledge requires billionaires to donate more than half of their wealth to charitable causes.
Bill and Melinda Gates, who run the world's largest private charitable foundation, aimed at improving global health, have also committed themselves to the pledge of more than half of their fortune, among other billionaires who have pledged to donate more than half of their fortune, include Richard and Joan Branson, Michael R. Bloomberg, Mark Zuckerberg and Priscilla Chan, Judy Faulkner and Sara Blakely.
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