Summary
Warren Buffett gave $1.1 billion in Berkshire Hathaway stock to family foundations and detailed plans for distributing his $147 billion fortune after his death.
His three children will oversee giving the remainder within 10 years, with designated successors in case they predecease him.
Buffett, 94, reaffirmed his belief in avoiding dynastic wealth, favoring philanthropy instead.
Over the years, he has donated $55 billion to the Gates Foundation but plans to shift focus to his family’s foundations.
Buffett continues leading Berkshire Hathaway while preparing Greg Abel as his successor.
Because if it takes 10 years to donate that much and the market stays at its 10 year average growth they stand to have something like 190b dollars left when they are done donating that 149b.
I’m pretty sure his foundations and the Gates stuff both are specifically designed to be left with zero money at the end.
With that logic he should give it to Jeff Bezos so he can keep growing it after he’s gone.
As long as the promise is on the horizon and they don’t ever pay up then poor idiots will keep making excuses for them to not dump their ill gotten gains back into the system they stole it from!
I feel like you are inventing the concept of an endowment from first principles.
What do you mean?