Warren Buffett Set a New Goal: Give Away All of His $140 Billion Berkshire Stake by 2034
You can't take it with you, so you might as well spend it where you think it will do some good for someone.
Overview
Twenty years ago, Warren Buffett pledged to donate all of his vast wealth to charities.
"My pledge: More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day," Buffett wrote back in 2010.
Details
This week, Buffett, now the retired former CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) put that pledge into action. On July 14, Buffett announced that he will convert 8,000 Berkshire Hathaway Class A shares into 12 million Berkshire Hathaway Class B shares to donate the 12 million B shares to four foundations.
Source
Originally published at www.fool.com.