Warren Buffett is shifting his focus towards philanthropy as he steps down as CEO of Berkshire Hathaway. The 95-year-old billionaire has been accelerating his charitable donations for years and now plans to step up the pace even further. In a Thanksgiving letter to shareholders, Buffett announced that he will donate $1.3 billion worth of Class B Berkshire shares to four nonprofits run by his family.
Buffett's children, Susie, Howard, and Peter, will each receive 400,000 shares in their respective foundations: the Susan Thompson Buffett Foundation, named after his late first wife; the Sherwood Foundation; the Howard G. Buffett Foundation; and the NoVo Foundation. The donations will be part of Buffett's long-term philanthropic plan, which aims to transfer his remaining fortune – estimated at $147 billion – to a charitable trust overseen by his children within a decade.
To ensure that his children can meet this timeline, Buffett is accelerating the pace of donations to their foundations. He believes it would be unwise to rely on luck and delayed aging when his children are now in their 60s and 70s. Over the past two decades, Buffett has already given away over $60 billion.
Buffett's retirement as CEO of Berkshire Hathaway is scheduled for the end of 2025, with Greg Abel taking over as the new leader. While Buffett will remain a significant shareholder and retain some Class A shares, he plans to "go quiet" as the company's public face. However, he intends to continue writing an annual Thanksgiving message.
Despite his age and physical health, Buffett remains optimistic about his future and continues to work five days a week. He has always been known for his folksy attitude towards both investing and life, which has charmed shareholders over the years. In his letter, Buffett reflected on the meaning of "greatness," saying it comes not from money or power, but from kindness.
As Buffett steps down as CEO, he leaves behind a legacy of philanthropy and business acumen that will be remembered for generations to come.
Buffett's children, Susie, Howard, and Peter, will each receive 400,000 shares in their respective foundations: the Susan Thompson Buffett Foundation, named after his late first wife; the Sherwood Foundation; the Howard G. Buffett Foundation; and the NoVo Foundation. The donations will be part of Buffett's long-term philanthropic plan, which aims to transfer his remaining fortune – estimated at $147 billion – to a charitable trust overseen by his children within a decade.
To ensure that his children can meet this timeline, Buffett is accelerating the pace of donations to their foundations. He believes it would be unwise to rely on luck and delayed aging when his children are now in their 60s and 70s. Over the past two decades, Buffett has already given away over $60 billion.
Buffett's retirement as CEO of Berkshire Hathaway is scheduled for the end of 2025, with Greg Abel taking over as the new leader. While Buffett will remain a significant shareholder and retain some Class A shares, he plans to "go quiet" as the company's public face. However, he intends to continue writing an annual Thanksgiving message.
Despite his age and physical health, Buffett remains optimistic about his future and continues to work five days a week. He has always been known for his folksy attitude towards both investing and life, which has charmed shareholders over the years. In his letter, Buffett reflected on the meaning of "greatness," saying it comes not from money or power, but from kindness.
As Buffett steps down as CEO, he leaves behind a legacy of philanthropy and business acumen that will be remembered for generations to come.
I cant even begin to process how amazing this is... Warren Buffetts philanthropic efforts are genuinely giving me all the feels 
. Like seriously, 60 billion+ dollars already given away? That's insane! And now he's planning to donate another 1.3 billion? 
It's not just about the money tho, it's the fact that he's setting up a system where his kids can inherit this wealth in a responsible way and continue making a difference with it 
. I'm literally so inspired by his commitment to kindness over power and wealth... it's truly a reminder of what greatness looks like 
. Can we all learn from his example? 
I mean, come on, 2025 and they still don't have a better way to alert users when someone new comments on their thread... anyway, back to the news... Warren Buffett stepping down as CEO of Berkshire Hathaway is kinda sad, but it's awesome that he's shifting his focus towards philanthropy! 
I mean, who wouldn't want to give away $1.3 billion? But seriously, it's amazing to see someone like him putting their wealth to good use and making a real difference in the world... I'm just surprised they don't have a "philanthropy" thread for us to discuss this kind of stuff, lol... 
He's not just raking it in from Berkshire, but actually using that wealth for good. I love how he says greatness comes from kindness - so true, man 
. And what's with this "going quiet" thing? Is that just a fancy way of saying he's not gonna be as visible anymore? 
. Plus, its great that he's still going strong at 95 - the guy's got more energy than most people half his age! 
IT'S AMAZING TO THINK ABOUT HOW MUCH HE'S ALREADY GIVEN AWAY - $60 BILLION OVER THE PAST TWO DECADES IS JUST MIND-BLOWING!!! 
I LOVE HOW HE'S THINKING ABOUT LEAVING A LASTING LEGACY THROUGH KINDNESS RATHER THAN JUST WEALTH AND POWER. IT JUST GOES TO SHOW YOU THAT TRUE GREATNESS COMES FROM WITHIN! 
. And what about the other nonprofits he's donating to? Are those even legit orgs? Need some more info on that 
. His example inspires me to think more critically about how we can use our privilege to make a positive impact on the world. On the other hand, I worry that the pace of donations might be too aggressive 
. Still, his commitment to kindness as the definition of greatness resonates with me 
. It's reassuring to know that someone with such a significant influence is using their power for good 
.
. Only thing I'm wondering is how his family will manage with all that money? They're gonna have to invest it wisely or something 
! I mean, who wouldn't want to give away $1.3 billion? 
can't wait to see how his charitable trust will shape the future 
? I'm not saying it's bad or anything, but I need some sources on this "charitable trust" thingy. What even is that? Is it like a super-complex will or something? And how does it work exactly? 
What's next, him handing over the company too? 
.
. I mean, its not every day you hear about someone giving up power and influence to focus on making a difference in the world 
. And let's be real, hes still got some great ideas left in him - he's working 5 days a week at 95 years old! 
! He's already given away so much money over the years, $60 billion is insane 
. I'm not surprised though, he's always talked about the importance of kindness and giving back to society 
.