Warren Buffett Set a Personal Goal to Give Away His Entire $140 Billion Berkshire Stake by 2034. Here's What That Means for Future Share Supply.
The Oracle of Omaha's big transfer could have a less dramatic impact on Berkshire's governance and price action than you think.
Overview
Warren Buffett started giving away his Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) shares 20 years ago, but the legendary investor is speeding up the process. Last month, Buffett announced his plans to dispose of his remaining shares between now and Dec. 31, 2034.
On the same day as the press release, Buffett converted $6 billion in Berkshire Class A shares into Class B shares and donated them to several private foundations.
Details
Interestingly enough, for the first time in 20 years, Buffett gave nothing to the Gates Foundation, opting instead to give only to various affiliated foundations, including The Susan Thompson Buffett Foundation, as well as the private foundations run by each of his three children.
Source
Originally published at www.fool.com.