‘Gates Foundation Won’t Get Money…’: Warren Buffett Reveals What Will Happen to His Money After His Death

Warren Buffett’s Revised Philanthropic PlansWarren Buffett’s Revised Philanthropic Plans Legendary investor Warren Buffett has revised his estate plans, opting to direct his vast fortune to a charitable fund controlled by his three children rather than continuing posthumous donations to the Bill & Melinda Gates Foundation. Change of Heart Buffett expressed confidence in his children’s values and their ability to manage his estate effectively. “I trust my children and their values completely,” he stated. Previous Arrangements Buffett had previously intended to donate over 99% of his estate to the Gates Foundation and four family-related charities. However, he will now continue to support the Gates Foundation through lifetime donations. Recent Gifts Despite the change in his will, Buffett recently converted a significant number of Berkshire Hathaway Class A shares into Class B shares, with 9.3 million shares going to the Gates Foundation Trust. Gratitude from the Gates Foundation Mark Suzman, CEO of the Gates Foundation, expressed gratitude for Buffett’s generosity and his total contributions of approximately $43 billion. “Warren Buffett has been incredibly generous to the Gates Foundation,” he said. Ongoing Donations Buffett plans to continue donating substantial amounts to his family’s charities during his lifetime. Last year, he donated $870 million and intends to donate $750 million in 2022. Remaining Assets After these donations, Buffett will still own a significant portion of Berkshire Hathaway shares, worth approximately $128 billion.

Warren Buffett, 93, chairman of Berkshire Hathaway, has changed his plans for his fortune after his death. He shared with the Wall Street Journal that his will now directs his assets to a new charitable fund controlled by his three children, ending posthumous donations to the Bill & Melinda Gates Foundation.

“The Gates Foundation will receive no more money after my death,” Buffett said.

He has revised his will several times and recently expressed confidence in his children’s values ​​and their ability to manage his estate. Each of his children oversees a philanthropic organization.

“I trust my children and their values ​​completely,” Buffett said.

Buffett previously planned to use more than 99 percent of his estate to support the Gates Foundation and four family-related charities: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. For now, he will continue to donate to the Gates Foundation during his lifetime.

On Friday, Berkshire Hathaway announced that Buffett is converting 9,000 Class A shares into more than 13 million Class B shares, with 9.3 million shares going to the Gates Foundation Trust and the rest to family charities.

“Warren Buffett has been incredibly generous to the Gates Foundation for more than 18 years,” said Mark Suzman, the foundation’s CEO, who expressed gratitude for Buffett’s recent gift and his total contributions of approximately $43 billion.

Last year, Buffett donated about $870 million to his family’s charities and will donate about $750 million in 2022.

After these donations, Buffett owns 207,963 Berkshire Hathaway Class A shares and 2,586 Class B shares, worth approximately $128 billion.