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Hindustan Times
12 hours ago
- Business
- Hindustan Times
Warren Buffett to donate Berkshire Hathaway stocks worth $6 million to these 5 foundations
Warren Buffett, the Chairman of Berkshire Hathaway, is widely regarded as one of the greatest value investors in history. Now, the billionaire revealed the details of his will and confirmed that 99.5 per cent of his fortune will be donated to philanthropic causes. Buffett, 94, made headlines again as he pledged $6 billion in Berkshire Hathaway stock to five charitable foundations, including the Bill and Melinda Gates Foundation Trust. Warren Buffett, chairman and CEO of Berkshire Hathaway, will donate Berkshire Hathaway stocks(AP) Reportedly, this latest donation would bring his total contributions to philanthropic efforts since 2006 to an estimated $60 billion, depending on stock valuations at the time of donation. In a statement cited by AP, Buffett reportedly downplayed any suggestion of genius behind his financial success. He said that nothing extraordinary has occurred at Berkshire and added that a very long runway, sound decisions had compounding effects producing his wealth. Warren Buffett's net worth, as per reports, stands at approximately $145 billion, nearly all of which is tied to Berkshire Hathaway stock. Over the years, his conservative, value-driven approach, buying great companies at fair prices and holding them long-term, has earned him legendary status on Wall Street. Also read: With record $6 billion donation, Warren Buffett to exit world's top 5 richest list Where the donations are going As per the report, according to Buffett's will around 12.4 million Class B shares of Berkshire Hathaway will be distributed across five foundations. The largest recipient is the Bill and Melinda Gates Foundation Trust, which will be receiving 9.4 million shares. Other beneficiaries include Susan Thompson Buffett Foundation which will receive 943,384 shares. Following that, the Sherwood Foundation, Howard G Buffett Foundation and the NoVo Foundation will receive 660,366 shares each. The wealth distribution is expected to happen on Monday, Buffett said. Among Berkshire Hathaway's businesses, which Buffett has led since the 1960s, are Geico, Dairy Queen, and BNSF Railway, besides having large holdings in companies such as Apple, Coca-Cola, and American Express. His decision is consistent with the idea he has held for many years: that extreme wealth should be spent for the good of society. In his role as one of the founders of The Giving Pledge, he forever continues to set an example for what responsible wealth stewardship can look like—especially from the very top. FAQs What is Warren Buffett's annual salary? Buffett famously takes a modest annual salary of $100,000, a figure he has kept for decades, despite his massive wealth. At what age did Warren Buffett become a billionaire? Buffett became a billionaire in 1990, at the age of 60, largely due to his increasing stake in Berkshire Hathaway. Who will inherit Warren Buffett's money? Almost all of Buffett's fortune will go to charity, not directly to his children. He has stated publicly that he wants his children to be 'well-off, but not spoiled,' and they run their own charitable foundations receiving portions of his estate. Who is the first 20-year-old billionaire? That title belongs to Kylie Jenner, who was declared the world's youngest self-made billionaire at 21 in 2019, according to Forbes.
Time of India
18 hours ago
- Business
- Time of India
Warren Buffett reveals details of his will. Check Berkshire Hathaway owner net worth
Warren Buffett has shared details about his will as the legendary investor is donating shares of Berkshire Hathaway to five foundations, including Bill and Melinda Gates Foundation Trust. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. Buffett has also revealed reason behind the growth in the wealth. He said that nothing extraordinary has occurred at Berkshire but simple and generally sound decisions, the American tailwind and compounding effects produced his current wealth. Warren Buffett Net Worth The bargain-hunting approach has helped Warren Buffett amass a fortune worth about USD 145 billion, with basically all of it in Berkshire Hathaway's stock. "Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth," Buffett said in a statement, as per an AP report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn The Most Successful Intraday Strategy in Just 2 Hr. thefutureuniversity Learn More Undo Buffett's Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett stated. Warren Buffett Donation to Bill and Melinda Gates Foundation Trust Live Events Warren Buffett is donating USD 6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received. Buffett said the shares of Berkshire Hathaway will be delivered on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its stock. Those shares have a lower and easier-to-digest price tag than the company's original Class A shares, and each of the B shares was worth USD 485.68 at their most recent close on Friday. Berkshire Hathaway's Class B stock has climbed 19.1 per cent over the last 12 months, topping the broad US stock market's return of 14.1 per cent, including dividends. The largest tranche is going to the Bill and Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation will each receive 660,366 shares. Buffett made waves a year ago when he said he plans to cut off donations to the Bill and Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune. FAQs Q1. What does Warren Buffett's will reveal? A1. Warren Buffett's Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett stated. Q2. What is Warren Buffett's net worth? A2. Warren Buffett amass a fortune worth about USD 145 billion.
Economic Times
18 hours ago
- Business
- Economic Times
Warren Buffett reveals details of his will. Check Berkshire Hathaway owner net worth
Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Warren Buffett has shared details about his will as the legendary investor is donating shares of Berkshire Hathaway to five foundations, including Bill and Melinda Gates Foundation Trust. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. Buffett has also revealed reason behind the growth in the wealth. He said that nothing extraordinary has occurred at Berkshire but simple and generally sound decisions, the American tailwind and compounding effects produced his current bargain-hunting approach has helped Warren Buffett amass a fortune worth about USD 145 billion, with basically all of it in Berkshire Hathaway's stock. "Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth," Buffett said in a statement, as per an AP Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett Buffett is donating USD 6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received. Buffett said the shares of Berkshire Hathaway will be delivered on Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its shares have a lower and easier-to-digest price tag than the company's original Class A shares, and each of the B shares was worth USD 485.68 at their most recent close on Friday. Berkshire Hathaway's Class B stock has climbed 19.1 per cent over the last 12 months, topping the broad US stock market's return of 14.1 per cent, including largest tranche is going to the Bill and Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation will each receive 660,366 made waves a year ago when he said he plans to cut off donations to the Bill and Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune.A1. Warren Buffett's Will has provision for donating the lion's share of his wealth towards philanthropic causes. "My will provides that about 99½% of my estate is destined for philanthropic usage," Buffett stated.A2. Warren Buffett amass a fortune worth about USD 145 billion.
Yahoo
11-05-2025
- Business
- Yahoo
Opinion - We should listen to Warren Buffett — and learn from him
Warren Buffett announced earlier this month that he would retire as CEO of Berkshire Hathaway by the end of the year. The multinational conglomerate, which he acquired in 1965 when it was a textile mill, became the first non-technology company to reach a $1 trillion market cap. At age 94, Buffett is the fifth-wealthiest person in the world. We can learn a lot a lot about economics, politics, philanthropy, taxes and tariffs from 'the Oracle of Omaha.' Born in 1930, Buffett is an American success story. He began making money selling chewing gum, old golf balls, stamps, calendars, newspapers and magazines door-to-door before he was a teenager. At age 14, he filed his first tax return, taking a $35 deduction for his bicycle. By the 1950s, he was acquiring a reputation as one of the nation's premier 'value investors.' Buffett attributes his wealth to living in the U.S., working within a system of free-market capitalism, plus 'some lucky genes and compound interest.' Being male and white, he recognizes, 'also removed huge obstacles that a majority of Americans' in his generation faced. Buffett, who became a billionaire in 1985, has always lived modestly. He lives in the same five-bedroom home in Omaha he purchased in 1958 for $31,500. Most mornings, he eats breakfast at McDonald's on his way to work; he is addicted to Chicken McNuggets. Buffett buys a new car 'very infrequently.' He did not trade in his flip phone for a smart phone until 2020. 'I don't need fancy clothes. I don't need fancy food,' he says. 'I have everything I need to have and I don't need any more because it doesn't make any difference after a point.' Buffett made an exception about 20 years ago, he acknowledges, when he splurged on a private jet to make travel easier. Revealing that between 2014 and 2018 his own effective tax rate was about 0.1 percent, Buffett insists that wealthy Americans should not pay a smaller percentage of their income than their far-less-affluent employees. His proposal of a 30 percent minimum tax on people who make more than $1 million each year has been dubbed 'the Buffett Rule.' And he is proud of Berkshire Hathaway's $26.8 billion tax payment in 2024 — the largest in U.S. history. If America's 800 biggest corporations paid their 'fair' share, Buffett claims (no doubt with intentional hyperbole), federal taxes for most Americans could be near zero. A just tax code would reduce the burden on middle-class and working-class Americans, provide resources for public services and infrastructure and help pay down the national debt. Equally important, according to Buffett, government should 'take care of the many who, for no fault of their own, get the short straws on life. They deserve better.' In 2006, Buffett made a commitment to contribute to five charities each year, designating the vast majority of the money to the Bill and Melinda Gates Foundation Trust. His donations in 2024 totaled $5.3 billion. Buffett's giving pledge specifies that 99 percent of his wealth will go to philanthropy during his life and at his death. He has also urged rich Americans to allocate at least 50 percent of their wealth to charitable organizations. Recently, Buffett addressed global trade and tariffs. In March, he emphasized that over time, tariffs 'are a tax on goods. I mean the Tooth Fairy doesn't pay them. And then what? You always have to ask that question in economics. You always say, 'And then what?'' The 'then what,' he implied, was in essence a consumption tax that would fall disproportionately on middle- and working-class Americans. In May, Buffett said that it wasn't 'a good idea to design a world where a few countries say, 'ha, ha, ha, we've won.'' In a clear reference to the tariff wars started by the Trump administration, he deemed it 'a big mistake' to 'have 7.5 billion people who don't like you very well and you have 300 million who are crowing about how they have done.' 'The more prosperous the world becomes,' Buffett declared, 'the more prosperous we'll become — and the safer we'll feel and our children will feel some day.' Midwestern common sense delivered in plain spoken English. And, as with so many other recommendations Buffett has made, Americans across the ideological spectrum may well say, 'from his lips to God's ears.' Glenn C. Altschuler is the Thomas and Dorothy Litwin Emeritus Professor of American Studies at Cornell University. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
11-05-2025
- Business
- The Hill
We should listen to Warren Buffett — and learn from him
Warren Buffett announced earlier this month that he would retire as CEO of Berkshire Hathaway by the end of the year. The multinational conglomerate, which he acquired in 1965 when it was a textile mill, became the first non-technology company to reach a $1 trillion market cap. At age 94, Buffett is the fifth-wealthiest person in the world. We can learn a lot a lot about economics, politics, philanthropy, taxes and tariffs from 'the Oracle of Omaha.' Born in 1930, Buffett is an American success story. He began making money selling chewing gum, old golf balls, stamps, calendars, newspapers and magazines door-to-door before he was a teenager. At age 14, he filed his first tax return, taking a $35 deduction for his bicycle. By the 1950s, he was acquiring a reputation as one of the nation's premier 'value investors.' Buffett attributes his wealth to living in the U.S., working within a system of free-market capitalism, plus 'some lucky genes and compound interest.' Being male and white, he recognizes, 'also removed huge obstacles that a majority of Americans' in his generation faced. Buffett, who became a billionaire in 1985, has always lived modestly. He lives in the same five-bedroom home in Omaha he purchased in 1958 for $31,500. Most mornings, he eats breakfast at McDonald's on his way to work; he is addicted to Chicken McNuggets. Buffett buys a new car 'very infrequently.' He did not trade in his flip phone for a smart phone until 2020. 'I don't need fancy clothes. I don't need fancy food,' he says. 'I have everything I need to have and I don't need any more because it doesn't make any difference after a point.' Buffett made an exception about 20 years ago, he acknowledges, when he splurged on a private jet to make travel easier. Revealing that between 2014 and 2018 his own effective tax rate was about 0.1 percent, Buffett insists that wealthy Americans should not pay a smaller percentage of their income than their far-less-affluent employees. His proposal of a 30 percent minimum tax on people who make more than $1 million each year has been dubbed 'the Buffett Rule.' And he is proud of Berkshire Hathaway's $26.8 billion tax payment in 2024 — the largest in U.S. history. If America's 800 biggest corporations paid their 'fair' share, Buffett claims (no doubt with intentional hyperbole), federal taxes for most Americans could be near zero. A just tax code would reduce the burden on middle-class and working-class Americans, provide resources for public services and infrastructure and help pay down the national debt. Equally important, according to Buffett, government should 'take care of the many who, for no fault of their own, get the short straws on life. They deserve better.' In 2006, Buffett made a commitment to contribute to five charities each year, designating the vast majority of the money to the Bill and Melinda Gates Foundation Trust. His donations in 2024 totaled $5.3 billion. Buffett's giving pledge specifies that 99 percent of his wealth will go to philanthropy during his life and at his death. He has also urged rich Americans to allocate at least 50 percent of their wealth to charitable organizations. Recently, Buffett addressed global trade and tariffs. In March, he emphasized that over time, tariffs 'are a tax on goods. I mean the Tooth Fairy doesn't pay them. And then what? You always have to ask that question in economics. You always say, 'And then what?'' The 'then what,' he implied, was in essence a consumption tax that would fall disproportionately on middle- and working-class Americans. In May, Buffett said that it wasn't 'a good idea to design a world where a few countries say, 'ha, ha, ha, we've won.'' In a clear reference to the tariff wars started by the Trump administration, he deemed it 'a big mistake' to 'have 7.5 billion people who don't like you very well and you have 300 million who are crowing about how they have done.' 'The more prosperous the world becomes,' Buffett declared, 'the more prosperous we'll become — and the safer we'll feel and our children will feel some day.' Midwestern common sense delivered in plain spoken English. And, as with so many other recommendations Buffett has made, Americans across the ideological spectrum may well say, 'from his lips to God's ears.' Glenn C. Altschuler is the Thomas and Dorothy Litwin Emeritus Professor of American Studies at Cornell University.
