Warren Buffet, the world’s seventh wealthiest person according to Bloomberg, has handed out $1.1 billion to four family foundations in his latest philanthropic giveaway, while laying bare the procedure that the distribution of his estate will take after his death.
The largesse from the globally esteemed investor to the beneficiaries, who included The Susan Thompson Buffet Foundation, the Sherwood Foundation, the Howard G. Buffet Foundation and NoVo Foundation, comes in the form of equity.
The Susan Thompson Buffet Foundation gets 1.5 million B shares, while the three remaining beneficiaries receive 300,000 B shares each, in Berkshire Hathaway, Mr Buffet stated in a letter made public on Monday.
