Warren Buffett announces "going low" and giving $1.3 billion to charity

Buffett also revealed plans to increase the speed of charitable contributions through his children's foundations, with a total donation of over $1.3 billion to four family foundations. By the end of 2025, Buffett will pass on the CEO role to his successor, Greg Abel, but intends to continue delivering his traditional Thanksgiving message to shareholders, where he outlines his significant charitable efforts.

Letters such as the one published on November 10, along with those accompanying the company's annual reports, are highly valued by Buffett's fans for their insights, investment guidance, and humorous observations, according to Bloomberg. In this letter, the 95-year-old investor mentioned that he is in good health but intends to increase the pace of charitable giving through his children's foundations while he is still alive.

Additionally, Buffett expressed his desire to expedite the transfer of his assets to his children so they can oversee his entire wealth. Susan, Howard, and Peter, who are all in their 60s and 70s, are expected to manage this legacy. Buffett believes it would be a mistake to assume they would easily share his "exceptional good fortune" in their later years.

source: bloomberg.com