Warren Buffett (Twitter / AppleInsider)
What will happen to Warren Buffett’s billions when he dies? Some of it may go to any child on earth. According to a Wall Street Journal report, in 2006, Berkshire Hathaway CEO pledged to donate 85% of his stake in the charity, giving most of it to the Bill and Melinda Gates Foundation. Four years later, he vowed to redistribute 99% of his capital to philanthropy during His life or after.
Of the $ 90 billion in Buffett’s Berkshire shares, $ 56 billion will be transferred to the Gates Foundation and $ 17.4 billion to four family charities, leaving $ 18.7 billion unknown as to what will happen to them. He reportedly wants to spend his billions within 10 years of his death.
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One solution proposed was to create a global savings bank for children. The exact amount allocated to each child was not disclosed, but a former Gates Foundation employee said in an interview that each child would receive thousands of dollars that “sit on shelves, like an operational battle plan.”
But Buffett, who is celebrating his 92nd birthday, has not yet revealed how his wealth will be divided after his death; Estate planning experts toldWSJ, Whose letter of commitment was a bit vague. The investigation found that Susan Thompson Buffett, a family charity that supports abortion rights for women, hired staff and planned a “massive influx of money” of up to $ 100 billion – which means she may inherit some of the capital.
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Buffett insiders toldWSJ There are inaccuracies in the report. But, if the Gates Foundation does receive enough money to distribute an allowance to each child, it will help change the world’s economic gaps. As the cost of living skyrockets, the payment for a person’s expenses becomes more and more unreasonable. The cost of raising a child in the U.S. has contributed to a decline in birth rates that has been going on for more than a decade, as millennials suffer more from debt and recession, delaying bringing children into the world until they settle their economic affairs.
As wealth inequality and wage disparities widened during the corona, a growing number of billionaires thought of more realistic ways to allocate their assets. This includes the idea of a more equitable distribution of money, starting with children. If Gates Foundation employees continue with such plans for a global children’s bank, Buffett’s billions could have the same impact around the world.
Buffett’s fortune currently stands at $ 96.8 billion.
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