For Warren Buffett, the most impressive benefactors are those who put in personal time and effort.
Photo: JOHANNES EISELE / Getty Images
Yesterday, Warren Buffett wrote that with his annual contribution of Berkshire Hathaway stock to five foundations worth $4.1 billion, You’re halfway through the commitment you made in 2006 to distribute all of your company’s shares to charity, CNBC Make It published.
Obama’s Oracle noted that in June 2006 he owned 474,998 “A” shares in Berkshire Hathaway and that he now owns 238,624 shares, valued at approximately $100 billion, all of which will be used for charity.
Warren Buffett is determined to achieve his goalWhich means that you do not plan to share your surplus wealth with your children.
This was confirmed by the legendary and wonderful expert in money issues His “incomprehensible” legacy will have a better purpose by going to charitable causes of investment portfolios for your children.
“After much observation of the very wealthy familiesAnd here’s my advice: Leave the kids long enough that they can do anything, but not long enough that they can do nothing,” Buffett said.
“I am happy with that My three sons, now in their 60s, do charitable work that involves money and time. And most importantly, they are happy that they can participate in helping others. “They have their mother’s genes,” the American millionaire added.
What Warren Buffett wrote does not mean that his children were left adrift, because each of them is already over 60 years old and owns more than two billion dollars in foundations funded by their father.
“for many decades I raised an almost incomprehensible amount just by doing what I love to doMoney wise said. I didn’t make any sacrifices and my family didn’t. The compound interest, the long driveway, the wonderful partners, and our amazing country have worked their magic. Society has a use for my money. I do not.”
For Buffett, giving up his vast fortune is not enough, as he considers it to be The most admired benefactors are those who dedicate personal time and effortجهد In his own words, he did very little of it.
“Those who give their love and time to help others directly, perhaps by adding a monetary gift that compels them to forgo the purchase of something useful for their own use, are the champions of philanthropy. The United States has millions of these donorsWarren Buffett wrote in his letter to investors.
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