Warren Buffett to Donate $149 Billion in Berkshire Hathaway stock

In his letter to shareholders, billionaire philanthropist Warren Buffett stated that he will "go quiet" after stepping down as CEO of Berkshire Hathaway at the end of the year. Buffett, 94, recently announced plans to increase his philanthropic efforts, promising to donate the remaining $149 billion in Berkshire stock he owns.

Key Highlights

• Warren Buffett pledges his remaining $149 billion Berkshire Hathaway stake to family foundations and charity.
• Despite the massive pledge, Buffett maintains confidence in Berkshire’s future and will retain significant Class A shares.

In his final famous annual letter as CEO, Buffett also pondered on business and aging, noting, "I am at the office five days a week where I work with wonderful people." He said that he had changed 1,800 Class A shares, valued at $1.35 billion, into the company's lower-priced B shares and gave them to four of his family foundations.

"To increase the likelihood that they will dispose of what will effectively be my entire estate before alternate trustees replace them, I need to accelerate the pace of lifetime gifts to their three foundations," he added.

Buffet said earlier this year that Berkshire Hathaway would now be led by Gregory Abel, 63, who has been with the company since 2000.

Buffett stated that his outlook for Berkshire Hathaway's future remains positive, and that he will keep a "significant amount" of Class A shares until shareholders are satisfied with the leadership transition.

Warren Buffett, now retired, is one of the world's top five richest people, worth $152.1 billion.

Earlier this year, the investing great criticized US tariffs imposed by President Donald Trump, calling them a "big mistake" and warning that trade should never be used as a weapon.

Also Read: Warren Buffett Makes Record $6 Bn Donation in Berkshire Hathaway Shares

Buffett also claimed that governments have a natural inclination to steadily depreciate currencies over time. He described it as a "scary" phenomena and said that the US dollar is anticipated to fall versus foreign currencies by 2025.