Buffett (94 years old) intends to donate about 99.5 percent of his remaining wealth, which Forbes magazine now estimates at more than $150 billion, to a charitable fund that will be supervised by his daughter and two sons when he dies.
And in a letter to my shareholders BerkshireYesterday, Monday, Buffett revealed the appointment of three potential trustees as successors to his daughter Susie (71 years old) and his two sons Howard (69 years old) and Peter (66 years old) if they are unable to perform their duties.
Each of them is somewhat younger than his children, well known to them and “makes sense” to all of them, he said.
“I have never wanted to create a dynasty or have any plan that extends beyond children,” Buffett wrote, “but these successors are on a waiting list. I hope Susie, Howie (Howard) and Peter will distribute all of my assets themselves.”
On Monday, Buffett donated about $1.14 billion in Berkshire shares, equivalent to 1,600 Class A shares, to four family foundations.
This has increased his giving to more than $58 billion since 2006, when he pledged Buffett He distributed most of his wealth to foundations and the Bill & Melinda Gates Foundation, which received more than $43 billion. He donated about 56.6 percent of his shares in Berkshire.
Buffett has led Berkshire, which is headquartered in Omaha, Nebraska, since 1965. He still owns 14.4 percent of its shares.
