My Will is Going to Be ‘Simple and Public’ – Warren Buffett

Warren Buffett stated that the donation of his riches to charity causes after his death would be scrutinized by the public, yet the 93-year-old billionaire claimed he’s fine for the time being.

“I feel good but fully realize I am playing in extra innings,” the Berkshire Hathaway Inc. chief executive officer said in a Thanksgiving letter to shareholders. He’s long pledged that more than 99% of his wealth will go to philanthropy.

“After my death, the disposition of my assets will be an open book — no ‘imaginative’ trusts or foreign entities to avoid public scrutiny but rather a simple will available for inspection at the Douglas County Courthouse” in Omaha, Nebraska, where he lives.

According to the Bloomberg Billionaires Index, Buffett is the world’s ninth-richest individual, with a net worth of $120.8 billion, and his fortune has increased by $13.3 billion this year.

In 2010, he and his pals Bill Gates and Melinda French Gates launched the Giving Pledge, promising to contribute his money either during his lifetime or after his death. Four years ago, he began making large donations to the Gates Foundation as well as foundations associated with his children.

Buffett’s three children, ages 65 to 70, are named executors of his current will and trustees of the philanthropic trust that would receive his inheritance, according to the letter.

“They were not fully prepared for this awesome responsibility in 2006, but they are now,” Buffett said. “In administering the testamentary trust, the three must act unanimously. Because of the random nature of mortality, successors must always be designated. The trust’s charter will be broad.”

Buffett also stated in the letter that he donated more than $868 million in Berkshire Hathaway stock to charities this week, including one named for his late wife. Buffett donated 1.5 million Class B shares to the Susan Thompson Buffett Foundation and 300,000 shares to the Sherwood Foundation, the Howard G. Buffett Foundation, and the Howard G. Buffett Foundation.

According to a letter, the identical number of shares were granted to each organization last year by the Buffett Foundation and the NoVo Foundation. After changing 1,600 Class A shares into 2.4 million Class B shares, he made the donation.

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