The 93-year-old billionaire has just donated nearly $900 million more in Berkshire Hathaway stock and reiterated his commitment to giving away 99% of his assets.
In a report filed with the US Securities and Exchange Commission (SEC) on November 21, the billionaire investor said he donated 1.5 million Class B shares of Berkshire to the Susan Thompson Buffett Foundation, a charity named after Buffett's late first wife, which focuses on the health sector.
Warren Buffett also donated another 900,000 Class B shares, divided equally among the charities run by his children. At the same time last year, just before Thanksgiving, Buffett donated $759 million in Berkshire stock.
Buffett also released a rare letter to shareholders on November 21, reaffirming that he will donate more than 99% of his assets to charity. His children will be the executors of his will. Previously, he and Bill Gates founded the Giving Pledge, which encourages the world's richest people to donate at least half of their assets to charity.
Billionaire investor Warren Buffett. Photo: Nikkei Asia
In the letter, Buffett also said that Berkshire was "built to last" and would be handed over to talented people. Buffett has been scaling back his non-Berkshire activities over the past few years. He has never publicly signaled that he wants to retire, even after being diagnosed with prostate cancer in 2012.
"At 93, I'm still feeling fine, but I realize I'm playing overtime," Buffett said in the letter.
Buffett has prided himself on his health over the years, despite his fast food and sugary drinks. "I think happiness makes a big difference in longevity. I'm happier eating ice cream or drinking Coca Cola," he told CNBC in April.
Berkshire Vice Chairman Greg Abel, 61, is expected to succeed Buffett as CEO. "We have found the right person to succeed us and have a stable board of directors," Buffett wrote in the letter.
According to Forbes , Buffett is currently the 5th richest person in the world with a fortune of 120 billion USD. Since 2006, he has donated more than half of his Berkshire shares to charity. Their total value is about 52 billion USD. Of which, the Bill & Melinda Gates Foundation alone has received more than 39 billion USD.
Ha Thu (according to Reuters)
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