Warren Buffett Donates $1.3B in Berkshire Shares as Succession Plan Nears

Warren Buffett has donated $1.3 billion worth of Berkshire Hathaway shares to four family foundations, continuing his decades-long philanthropic strategy. The bulk of the shares—1.5 million Class B units—went to the Susan Thompson Buffett Foundation, named after his late wife. The remaining 400,000 shares each were allocated to charities overseen by his three children.

The announcement coincided with Buffett's final annual letter to shareholders, marking the end of an era. Since 2006, the Oracle of Omaha has systematically distributed his fortune, initially through the Gates Foundation and later via family-linked entities. His recent decision to exclude the Gates Foundation from posthumous donations signals a strategic shift toward legacy planning through his descendants.

Buffett's impending retirement at age 96 brings Greg Abel to the helm of Berkshire Hathaway, a long-anticipated transition. The MOVE also concludes Buffett's iconic shareholder communications, removing a key voice from the financial commentary landscape.