Summary
Warren Buffett gave $1.1 billion in Berkshire Hathaway stock to family foundations and detailed plans for distributing his $147 billion fortune after his death.
His three children will oversee giving the remainder within 10 years, with designated successors in case they predecease him.
Buffett, 94, reaffirmed his belief in avoiding dynastic wealth, favoring philanthropy instead.
Over the years, he has donated $55 billion to the Gates Foundation but plans to shift focus to his family’s foundations.
Buffett continues leading Berkshire Hathaway while preparing Greg Abel as his successor.
How did he take 100 from me, though? If I bought shares of Intel and made $100, how is it that I took it from you?
You pay taxes, they don’t. Their risks and lifestyle are subsidized, yours isn’t.
You are paying for his lifestyle and if you stop doing it the police come for you.
Also just wage theft generally.
Berkshire Hathaway hasn’t paid taxes?
Did he use his money to change tax laws? He didn’t create the crooked tax system. You aren’t going out of your way to pay more, either.
A good example is wage theft. Employees are not paid the value they produce. Instead of bonuses or fair salaries the company gives out dividends, etc.