Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death.

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.

  • drkt@scribe.disroot.orgEnglish
    464·
    15 days ago

    if I take 100 dollars from you and give back 10 to random people, does that seem fair?

    • ColeSloth@discuss.tchncs.de
      65·
      15 days ago

      How did he take 100 from me, though? If I bought shares of Intel and made $100, how is it that I took it from you?

      • drkt@scribe.disroot.orgEnglish
        173·
        15 days ago

        You pay taxes, they don’t. Their risks and lifestyle are subsidized, yours isn’t.

        You are paying for his lifestyle and if you stop doing it the police come for you.

        Also just wage theft generally.

        • ColeSloth@discuss.tchncs.de
          14·
          15 days ago

          None of that is Warren Buffet. You can’t just say all stock holders are evil thieves. Stock holders are the reason many of those businesses exist.

          Side note: did you actually know how much the rail workers were already being paid before the strike? It was better than most jobs by a fair amount. They didn’t have sick time because it was already previously negotiated away for other things in a previous contract.

            • ColeSloth@discuss.tchncs.de
              13·
              15 days ago

              Yeah…rail workers average $74k a year and get 30 days vacation a year. What do you get?

              *Edit:Also, I did a bit of digging. He does now own one railroad company. He only got it 14 years ago. He didn’t make his money as one of the railroad tycoons.

                • ColeSloth@discuss.tchncs.de
                  13·
                  15 days ago

                  Yeah, must be great to be white collar. It took me loads of training and certifications and ongoing certs to make far less.

                  Thing is, corporations will and have always tried making as much as possible. That isn’t Warren’s fault. He just didn’t do anything to fix it. The reason he and all these other billionaires can do this is because our shit government has undone taxes on the wealthy for the past 65 years. Our crooked government is to blame for the massive disparity. Not the guy who threw money at company’s he thought would continue to prosper. He’s just a symptom if he wasn’t involved with paying off and bribing the government. No idea if he has or not, there.

      • beansbeansbeans@lemmy.world
        81·
        15 days ago

        A good example is wage theft. Employees are not paid the value they produce. Instead of bonuses or fair salaries the company gives out dividends, etc.