Warren Buffett Donates $1.1 Billion in Latest Contribution

Warren Buffett, one of the world's leading billionaires, recently donated Berkshire Hathaway shares worth 1.10 billion dollars (about Rs. 9300 crores) to 4 family foundations on the 25th of this month for charitable purposes.

Washington: Warren Buffett, one of the world's leading billionaires, donated Berkshire Hathaway shares worth 1.10 billion dollars (about Rs. 9300 crore) to 4 family foundations on the 25th of this month for charitable purposes. He announced that he is giving this amount as part of the Thanksgiving tradition. He also revealed how his $147.4 billion fortune would be distributed after his death. After his death, his three children received 147.4 B.D. in a period of ten years. Buffett previously said that wealth is inherited. If one of his descendants dies before receiving the amount, it is now decided who will inherit the wealth next. Buffett explained in a letter to shareholders that his offspring know who they are.

To give wealth to children but not to make them lazy: royal wealth creation is not my mission. My children are getting older since 2006 when the succession plan was revealed. Howard (71), Susie (69) and Peter (66) are currently aged. I have paid them millions of dollars over the years. 'Wealthy parents should bequeath sufficient wealth to their children. But children should not be given to sit and eat without doing anything,' explained Buffett.

Decades-old home: Warren Buffett lives in the same Omaha home he bought decades ago. He commutes to work in comfortable cars but avoids noise. "Everything our family needs is available. But we don't want to be happy to make others jealous,'' Buffett said.

If Buffett, his first wife, had not donated the Berkshire shares, his wealth would have been $364 billion. The world's leading businessman Elon Musk's wealth is 314 B.D. It is noteworthy that it is much more than So far Gates Foundation has awarded 55 B.D. The amount was donated by Buffett.

If family members see the bow while we are still alive : Buffett gave a suggestion to every parent in the world. It was explained to them that they should see that the family members read the bow they had written while they were still alive. Buffett stated that because of this, they will be able to explain why they had to make those decisions and answer the children's questions. Buffett took this decision because of the bow in many families and seeing the heirs get separated.