Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, has made a significant change to his will, offering a new plan for his massive fortune after his passing. With a current net worth of $129 billion, Buffett is ranked as the 10th richest person in the world, according to the Bloomberg Billionaires Index.
On June 28, Buffett, now 93, revealed that he has once again revised his will. In a notable shift, he announced that the Bill & Melinda Gates Foundation will no longer be the primary recipient of his assets after his death. Instead, Buffett plans to transfer his wealth to a newly created charitable foundation, which will be managed by his three children.
“The Gates Foundation will not receive any money after I die,” Buffett confirmed in an interview with The Wall Street Journal (WSJ).
While Buffett has made multiple changes to his will over the years, this latest modification reflects his growing confidence in his children’s values and their ability to manage his wealth. Each of Buffett’s children already operates their own charitable foundations, and he expressed full trust in how they will distribute his assets.
“I feel very comfortable with the values that my three children are pursuing. I have 100% confidence in the way they run things,” Buffett told the WSJ.
Despite this change, Buffett continues to support the Gates Foundation, with which he has had a long-standing friendship. On June 28, he disclosed that he converted 9,000 of his Class A Berkshire Hathaway shares into over 13 million Class B shares. Approximately 9.3 million of these shares will be donated to the Gates Foundation, while the remaining shares will be split equally among the four foundations established by Buffett’s family.
“Warren Buffett has been incredibly generous to the Gates Foundation for the past 18 years, both financially and with his heart. We are deeply grateful for his contributions, which now total $43 billion in value,” Mark Suzman, CEO of the Bill & Melinda Gates Foundation, said in a statement to CNN.
In 2023, Buffett donated $870 million to his family’s four charitable foundations, continuing his philanthropic tradition. The previous year, his donations totaled $750 million.
According to the latest reports from Berkshire Hathaway, Buffett currently owns nearly 208,000 Class A shares and close to 2,600 Class B shares. These shares combined are valued at approximately $128 billion, making them a substantial part of his overall fortune.
As one of the most influential figures in investing and philanthropy, Buffett’s decision to entrust his wealth to his children’s foundations marks a new chapter in his legacy. His charitable contributions have already made a lasting impact, and his revised plan ensures that his wealth will continue to benefit society long after his passing.
