Warren Buffett Revamps $128 Billion Philanthropy Plan

Warren Buffett announced a $5.3 billion charitable gift but plans to amend his will to let his children decide the fate of his $128 billion estate. Buffett will end donations to the Gates Foundation after his death. He emphasizes that wealth should help those less fortunate.

Warren Buffett, the legendary investor behind Berkshire Hathaway, declared a $5.3 billion charitable donation on Friday, yet marked a significant alteration in his philanthropic strategy. In an exclusive with the Wall Street Journal, Buffett revealed plans to cease posthumous donations to the Bill & Melinda Gates Foundation, opting instead to entrust the distribution of his $128 billion estate to his three children.

This shift underscores Buffett's continued commitment to philanthropy, even as he revises his original 2006 pledge. 'My will provides that more than 99% of my estate is destined for philanthropic usage,' Buffett remarked. He added that his children are already aligned with his goal to aid the less fortunate globally.

Over the years, Buffett's donations, totaling around $55 billion to various foundations, have significantly impacted social causes worldwide. Gates Foundation CEO Mark Suzman lauded Buffett's contributions, recognizing his pivotal role in furthering the foundation's mission. Despite this change in direction, Buffett's legacy of giving remains profound, aimed at creating lasting social good.

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