Warren Buffett plans to donate entire Berkshire Hathaway stake by 2034
The Oracle of Omaha sets a hard deadline for his remaining fortune, skips the Gates Foundation for the first time in two decades, and reshapes what legacy philanthropy looks like at scale.
Warren Buffett plans to donate all of his remaining Berkshire Hathaway shares by 2034, according to a press release issued Tuesday.
The billionaire investor said he would convert 8,000 Berkshire Hathaway Class A shares into 12 million Class B shares for donation to four charitable foundations.
The Susan Thompson Buffett Foundation will receive 9 million shares, while the Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation will each receive 1 million shares.
The transaction will leave Buffett with 188,290 Berkshire Class A shares and 1,162 Class B shares.
In a statement, Buffett said he expects to dispose of all of his Berkshire shares within about eight years, with the process completed by Dec. 31, 2034.
He added that his children would oversee the remaining distributions if needed, and that future annual grants to the four foundations are intended to increase over time, with the Susan Thompson Buffett Foundation receiving the fastest growth.