'Investment Genius' Warren Buffett Donates 1 Trillion Won for Thanksgiving

Donation of Berkshire Shares to Four Family Charitable Foundations

'Investment genius' Warren Buffett, chairman of Berkshire Hathaway, donated $870 million (about 1.13 trillion KRW) worth of Berkshire shares to his family charitable foundations during the Thanksgiving holiday.

On the 21st (local time), the U.S. economic media CNBC reported that Buffett donated to a total of four foundations, including the Susan Thompson Buffett Foundation, named after his late first wife, and foundations operated by his children.

He donated 1.5 million Berkshire Hathaway Class B shares to the Susan Thompson Buffett Foundation. To the Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation, which are operated by his children, he donated 300,000 shares each.

In a statement, Buffett said, "This is part of a lifelong commitment I made in 2006," adding, "The donations will continue until I die." At 93 years old this year, he added, "I feel good but fully understand that I am still playing in overtime."

Buffett has led Berkshire, headquartered in Omaha, Nebraska, since 1965. Known as the "Sage of Omaha," he pledged to donate more than 99% of his wealth and has been donating annually to four family foundations since 2006. Just before last year's Thanksgiving holiday, he also donated Berkshire shares worth $759 million (about 980 billion KRW) to these foundations.

Separately, Buffett sent a letter to shareholders reaffirming his pledge to donate more than 99% of his wealth. He also stated that his children will carry on his intentions.

Furthermore, in the shareholder letter, he emphasized that the corporate value of Berkshire, which he has built over the past 60 years, will continue. Buffett said, "Berkshire is a company built to last," and although his influence is currently significant, the company itself is solid and will soon "earn the reputation it deserves" even without his supervision. At 93 years old, he stressed to shareholders that even if he steps down as chairman in the future, the company Berkshire itself will maintain high value.

He also highly praised Greg Abel, vice chairman of the non-insurance business segment and his designated successor, stating that he currently holds most of the responsibilities.

Meanwhile, according to the U.S. economic magazine Forbes, Buffett's fortune is $120.5 billion (about 156 trillion KRW), making him the world's 5th richest person.

This content was produced with the assistance of AI translation services.