Suddenly! Buffett will convert part of his Berkshire shares to donate to four family funds.
On November 25, Berkshire Hathaway released a statement that Warren Buffett converted his 1,600 shares of Berkshire Class A stock into 2.4 million shares of Class B stock and donated these shares to four family foundations.
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Buffett published a long article! Donated another $1.1 billion in stocks, designated three charity trustees, opposing inherited wealth (full text attached).
Specifically, Buffett will convert 1,600 shares of Class A stock into 2,400,000 shares of Class B stock in order to donate the Class B shares to four family foundations controlled by his children. He also stated in the letter that, considering he is a white American male born in the 1930s, both in terms of geographic location and social status, he "had long" been certain that he would become wealthy.
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