Warren Buffett surprised shareholders on Monday with a near-1,500-word letter alongside his usual Thanksgiving gift to four of his family's foundations.
The famed investor and Berkshire Hathaway CEO said he would shortly convert 1,600 of his Class A shares into 2.4 million Class B shares, worth about $1.2 billion.
Buffett picked more trustees to share his wealthIn his unexpected missive to Berkshire shareholders, Buffett said the gifts would reduce his personal stockpile to 206,363 A shares, worth $149 billion.
Buffett said his late wife's estate was worth about $3 billion, and 96% of that went into the pair's foundation.
They are also somewhat younger than my children," Buffett said, adding those individuals are "on the waitlist" and he hoped his children disbursed all his assets.
Persons:
Warren Buffett, Buffett, Elon Musk, Susan Thompson Buffett, Susan Thompson Buffett Foundation —, —, Howard G, He's, — Howard, Susie, Peter —, curt, — Buffett, Bertie, Morgan, Rockefeller, didn't, they're
Organizations:
Berkshire Hathaway, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Oracle, Elon, Bloomberg, Berkshire, Ford, Carnegie
Locations:
Berkshire, Omaha