The Warren Buffett Legacy: What's next for his billions?
Warren Buffett, chairman of Berkshire Hathaway, has revealed significant revisions to his will concerning the distribution of his considerable fortune after his death. In an interview with the Wall Street Journal, the 93-year-old billionaire disclosed that he has decided to cease posthumous donations to the Bill & Melinda Gates Foundation. Instead, his wealth will be directed towards a newly established charitable trust managed by his three children.
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«The Gates Foundation has no money coming after my death,» Buffett confirmed to the Journal.
Buffett explained that this decision reflects his confidence in his children's values and their ability to handle the distribution of his wealth responsibly. Each of his children currently manages their own philanthropic organization, contributing to Buffett's assurance in their capability.
«I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out,» Buffett affirmed.
Previously, Buffett had earmarked over 99% of his estate for philanthropic purposes, primarily through the Bill & Melinda Gates Foundation and four family-related charities: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation.
As of now, Buffett continues to make donations to the Gates Foundation during his lifetime. Recently, Berkshire Hathaway
