Berkshire Hathaway's Buffett to Convert 1,600 A Shares Into 2.4M B Shares in Order to Give These B Shrs to Four Family Foundations
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Warren Buffett Gives Away More of His Shares to Four Foundations, as Part of Giving Pledge
Buffett published a long article! Donated another $1.1 billion in stocks, designated three charity trustees, opposing inherited wealth (full text attached).
Specifically, Buffett will convert 1,600 shares of Class A stock into 2,400,000 shares of Class B stock in order to donate the Class B shares to four family foundations controlled by his children. He also stated in the letter that, considering he is a white American male born in the 1930s, both in terms of geographic location and social status, he "had long" been certain that he would become wealthy.
Warren Buffett Donates Another $1 Billion. He Has Estate-Planning Advice for Everyone. -- WSJ
