On June 28, Caijing News (Editor Shi Zhengcheng) reported that on Friday morning local time, the US media published an interview with the well-known investor Warren Buffett, but the topic was about the 93-year-old “stock god” talking about his own legacy.

Investors who follow Buffett should roughly understand that as he gets older, his public speaking has become 'rare'. Throughout the year, except for insisting on participating in the shareholder meeting in May and answering shareholder questions, the rest of the time is almost silent.

Edit the will.

It is well known that Buffett has promised publicly to donate 99% of his personal wealth to charities during his lifetime or after his death, and has been continuously fulfilling this promise. Since 2006, Buffett has donated half of his Berkshire equity holdings, mainly to the Gates Foundation and four foundations related to the Buffett family,

In the report on Friday, the 'stock god' revealed the latest estate arrangement. Buffett said that he has revised his will many times and formulated the plan he currently has after seeing his children become more mature.

Buffett revealed that in the latest arrangement, all remaining wealth after his death will be donated to a newly established charitable trust fund, jointly supervised by his daughter Susan Buffett, Howard Buffett and Peter Buffet。The three must unanimously decide how to use the money in the foundation.

He also said that he did not give specific instructions to his three children, but shared his views on charity - that the money should be used to help those who are 'not as lucky as we are'. He said: 'There are 8 billion people in the world, and my children and I are among the luckiest 1%. There are many ways to help people.'

No more money will go to the Gates Foundation after death.

According to the arrangement that began in 2006, Buffett originally planned to gradually donate his wealth to 5 foundations, donating out 5% of the remaining equity every year.

Among them, most will be given to the Bill and Melinda Gates Foundation founded by his old friend Gates and his former wife Melinda, and the remaining four foundations are related to his family: the Susan Thompson Buffett Foundation named after his deceased wife, the Susan A. Buffett Foundation managed by his daughter, the Howard G. Buffett Foundation managed by his eldest son Howard, and the Novo Foundation managed by his youngest son and his wife.

Buffett also said that donations to these five foundations will only continue while he is alive.

It is worth mentioning that in May 2021, Bill and Melinda Gates announced their divorce. In order to take care of their old friend's face, they waited until after the Berkshire Hathaway shareholder meeting in early May to announce it. Just two months after the divorce, Buffett announced his resignation as a trustee of the Gates Foundation. It is reported that Melinda also announced her resignation from the foundation earlier this year and cut off ties at the beginning of this month.

In the latest interview, Buffett made it clear that 'after I die, there will be no more money going to the Gates Foundation'.

According to statistics from the Gates Foundation, Buffett has donated 39.3 billion US dollars to the foundation from 2006 to 2023, and this number is also growing.

Berkshire Hathaway stated on Friday that Buffett will convert his 8,674 Class A shares into Class B shares for a new round of donations. One Berkshire A share can be converted into 1500 B shares, and A shares also have greater voting power. In this round of donations, the Gates Foundation will receive B shares worth $4 billion, the Susan Thompson Buffett Foundation will receive $400 million worth of shares, and the three children's foundations will each receive $280 million worth of shares.

The three children spoke together.

It should be noted that considering Buffett himself is 93 years old, his three children are already 60 or 70 years old.

The eldest daughter Susan is 71 years old this year. In addition to presiding over the foundation named after her own name, she also serves as the chairman of the Susan Thompson Buffett Foundation, which mainly supports reproductive rights and college scholarships.

The eldest son Howard Buffett, 69 years old this year, is engaged in agricultural work. Therefore, his Howard G. Buffett Foundation is committed to food security, as well as goals such as easing conflicts and combating human trafficking. Howard and Susan are both members of the Berkshire Hathaway board.

The younger son Peter Buffett, 66 years old this year, is a musician. He and his wife Jennifer Buffett jointly lead the Novo Foundation and fund projects including cooperation with indigenous communities.

Buffett emphasized that he is very satisfied with the values of his three children, and has 100% confidence in how they handle things.

Also facing the interview were three Buffett heirs.

Susan said: "We haven't discussed what we're going to do because it seems a bit early. I can imagine that it may be a continuation of what we've been doing."

Howard emphasized that the three of them may face a considerable workload, and Peter responded that their final decision may be influenced by various factors such as stock prices, tax laws, social and political developments.

Editor/Somer