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Warren Buffett: I will donate all my shares in Berkshire Hathaway by 2034
The US billionaire Warren Buffett, 95 years old, announced that he intends to donate his entire stake in Berkshire Hathaway within about 8 years, with the process to be completed by December 31, 2034.
Buffett revealed that he had converted 8,000 Class A shares into 12 million Class B shares in preparation to donate them to four charitable institutions.
Buffett said: “My goal is to get rid of all my shares in Berkshire Hathaway within about eight years. And I hope my three children will be able to complete the distribution of my shares by December 31, 2034.”
He added: “Of course, life can’t be predicted, but all of my remaining shares will be granted to the four institutions one way or another before December 31, 2034.”
After these donations, Buffett will still hold 188,290 Class A shares and 1,162 Class B shares in Berkshire Hathaway.
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