Warren Buffett Changes Will: No Donation to Bill Gates Foundation, Children to Create a Trust

Veteran American Investor Warren Buffett Amends Will

Veteran American investor Warren Buffett has made changes to his will. After his death, the donations to the Bill and Melinda Gates Foundation will cease. Instead, his wealth will be placed in a charitable trust managed by his three children.

Warren Buffett has altered his wishes multiple times. This time, he has expressed confidence in his children’s values and their ability to uphold his legacy. Buffett said, “I have complete faith in my children and their values.”

Previously, Buffett had intended to donate more than 99% of his wealth to the Gates Foundation and four family charitable organizations. For now, he will continue to donate to the Gates Foundation during his lifetime.

Warren Buffett: A Generous Contributor to the Foundation for 18 Years

Mark Suzman, CEO of the Bill and Melinda Gates Foundation, stated, “Warren Buffett has been incredibly generous to the foundation for 18 years.” He thanked Buffett for his recent donations and his total contribution of approximately $43 billion (around ₹3 lakh crore).

Last year, Buffett donated nearly $870 million to his family’s charitable foundations and about $750 million in 2022. After these donations, Buffett still holds 207,963 Class A shares and 2,586 Class B shares of Berkshire Hathaway, valued at approximately $128 billion.

Warren Buffett: The 10th Richest Person in the World

Warren Buffett is the 10th richest person in the world. According to Forbes’ real-time billionaire list, his total wealth is ₹10.77 lakh crore. At the top of this list is Tesla CEO Elon Musk, with a net worth of ₹18.62 lakh crore.

Warren Buffett Lives in a 65-Year-Old House

Despite being the 10th richest person in the world, Warren Buffett lives in a 65-year-old house in Omaha, which he bought for $31,500. At today’s value, the house was purchased for ₹26 lakh. He considers it one of his best investments. According to Yahoo Finance, the value of Buffett’s house has increased 44 times to $1,439,000 (₹11.9 crore).

Buffett admits that the house makes him happy, but renting it out might be a more financially sound decision. In a 2009 interview with the BBC, he said, “I couldn’t imagine a better house than this.” It is the only real estate asset in Buffett’s portfolio.