Warren Buffet to donate his Berkshire shares to these four foundations by 2034

Warren Buffet has announced to donate all of his Berkshire shares by 2034 to four foundations. In a press release dated July 14, 2026, Buffett says, “My goal is to dispose of all of my Berkshire shares within about eight years.” The four foundations include Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation. “Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034,” the world’s richest investor says adding “The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate”.Warren Buffet sets goal to dispose all of his Berkshire WealthAnnouncing his plans to “dispose” all his Berkshire shares by 2034, Warrant Buffet said “As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034”. As stated in the release, Buffet converted 8,000 Berkshire Hathaway Class A shares into 12,000,000 Berkshire Hathaway Class B shares in order to donate the 12,000,000 Class “B” shares to four foundations: 9,000,000 shares to the Susan Thompson Buffett Foundation and 1,000,000 shares to each of the Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation. After this, he now owns 188,290 Class A shares and 1,162 Class B shares.According to a CNBC report, Warren Buffet now owns stock in Berkshire Hathaway with a market value of more than $140 billion. Even without any increase in Berkshire's stock price, this would mean that Buffett will give away at least $17 billion a year. That's more than double the $7 billion in Berkshire shares he donated last year.Here’s the official statement issued by Berkshire Hathaway Today, Warren E. Buffett will convert 8,000 Berkshire Hathaway Class A shares into 12,000,000 Berkshire Hathaway Class B shares in order to donate the 12,000,000 Class “B” shares to four foundations: 9,000,000 shares to the Susan Thompson Buffett Foundation and 1,000,000 shares to each of the Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation.Mr. Buffett’s ownership of Berkshire now consists of 188,290 Class A shares and 1,162 Class B shares.* * * * * * * * * * * *Mr. Buffett’s comments follow:“My goal is to dispose of all of my Berkshire shares within about eight years. As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034. Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034. The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate.Get the latest technology news and updates. Download the TOI App.