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- Chief Business Intelligence
Warren Buffett
Introduction: Is Warren Buffett panicked or anxious? In early June, Berkshire experienced the worst overnight stock crash in its history.
At 21:50 Beijing time on June 3, Berkshire B's stock price plummeted from $622,000 to $185.1, evaporating 6.6 trillion overnight, plummeting 99.97%.
This is Warren Buffett's company, Buffett's current net worth is also in the stocks, this evaporation, Lao Ba is no different from bankruptcy, fortunately, there is no danger, but there is a problem with the software, and it will be normal after the repair.
However, at that time, the small rich retail investors who bought Berkshire's B shares at a low price caught wool at the ceremony, but it was ineffective.
It has only been less than a month since Buffett was "bankrupt", and Buffett has revised his will again, and he is afraid that Berkshire will experience another "stock market horror" of being zeroed out in such a hurry?
Although Buffett is 93 years old, he feels good and knows that he is playing overtime, and he even humorously hopes that he will continue to write letters to shareholders and attend shareholders' meetings next year.
Warren Buffett changed his tune and gave his $130 billion fortune to his children
Warren Buffett and his children
On June 28, according to the public information of the Wall Street Journal, during the interview with Buffett, Buffett said that he had revised his will again because he saw that his children were "mature".
Warren Buffett had previously boasted about Haikou and threatened to donate 99% of his personal wealth to charity, but now, he has changed his tune, and the remaining $130 billion of wealth will be "left" to his three children.
Another lie of Jewish capital has been exposed, how many people believe the big cake that Lao Ba made before?
So, Lao Ba relied on acting before? Do you want to stimulate your children's progress?
But it has only been less than one year, and Lao Ba's children are not advancing by leaps and bounds, and the rapid progress does not refer to the ability to make money, but the speed of creating a charitable trust fund.
Or is it just a secret separation? The three children negotiated well and finally found the best solution to deal with their old father's huge wealth.
Sure enough, a new charitable trust was successfully established, which is jointly managed by Buffett's three children.
Warren Buffett has three children, one is his daughter Susan Buffett, and two are sons, Howard Buffett and Peter Buffett.
According to the latest testamentary arrangement, Buffett plans to donate all his $130 billion property (equivalent to about 944.905 billion yuan) to the new fund, and his three children are his executors and appointed trustees of the new fund.
What is Buffett's remaining wealth?
As we all know, Berkshire stocks are divided into Class A and Class B, and the stock prices of the two are very different.
As of press time, Berkshire's Class A share price was $6,122,410, and Berkshire's Class B share price was $406.8.
Berkshire Class A share price on July 1
On June 28, according to the analysis of Berkshire Hathaway (hereinafter referred to as "Berkshire") public information:
Warren Buffett will convert his 8,674 Class A shares into about 13 million Class B shares, which will be donated to the Bill & Melinda Gates Fund and his family's four foundations.
Berkshire Class B share price on July 1
Based on the current share price of Berkshire's Class B shares, the donated shares are worth more than $5.3 billion.
The Buffett Family Foundations are the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard Buffett Foundation, and the Novo Foundation.
Berkshire Open Letter
After this time through the "reduction donation", Buffett's remaining shares, Berkshire Hathaway Class A shares are 207963 votes, and Class B shares are 2,586 shares.
At the current share price, the total value is about $130 billion. That is, the remaining 130 billion equity assets, after his death, these assets will be transferred to the newly established foundation of his three children.
No matter how good the friendship is, it is not as important as the role of "father".
Bill gates
Buffett also emphasized that after his death, his estate will not be donated to the Bill & Melinda Gates Foundation.
Rich people only make friends with rich people, can the boat of their friendship capsize? Bill Gates can't let Lao Ba trust anymore?
From 2006 to 2023, Buffett has donated a total of 39.3 billion US dollars (equivalent to about 285.64 billion yuan) to the Bill Gates Foundation.
Before Buffett retired in 2021, he was also a trustee of the Gates Foundation, he believed in Munger and Bill Gates's financial management ability, but the divorce of Bill Gates and his wife affected Buffett's conservative investment philosophy to some extent.
Left: Warren Buffett Right: Bill Gates and ex-wife Melinda
As early as 2022, Bill Gates participated in the Forbes 400 Philanthropy Summit and said the future plan of his fund, and the Bill & Melinda Gates Foundation plans to close after 25 years, that is, in 2045.
Only 23 years until 2045! At that time, Bill Gates was 91 years old.
Of course, in the past 20 years, not only other rich people have donated money to Dawn, Bill Gates said that he will also donate money himself, until his name disappears from the Forbes list.
For the young Buffett's children and grandchildren, 23 years is too short! How can it be enough to deal with nearly 1 trillion assets?
In short, no matter what the reason is, except for his children and grandchildren, no one wants to get a penny from Lao Ba, after all, friendship and family affection are compared, and the balance of interests is more inclined to family affection.
In fact, I can already see a little eyebrow! Buffett used to donate property to their respective foundations under the names of his three children, and each shared a little, and now the remaining half is taken care of together.
In short, the three children have a bowl of water to avoid falling into a "property dispute".
2024 Forbes Global Billionaires List
According to the public wealth data of the "2024 Forbes Global Billionaires List", Warren Buffett's net worth is 133 billion US dollars (equivalent to about 963.6 billion yuan), ranking 6th.
It can be said that the current Lao Ba basically has the remaining source of wealth from the stocks held by Berkshire Hathaway.
It seems that Buffett also uses Berkshire's account as a deposit account? This wealth is almost the market value of his holdings, but he will panic after holding it for a long time.
Warren Buffett
Over the years, if Lao Ba hadn't diverted his property, he would now be able to sit firmly on the throne of the world's richest man, what else would Musk do? Lao Ba is also well versed in the truth of the tree! So, rather left the first to others, and he and Bill Gates became more and more low-key.
But it's all your own people, not good friends or children's foundations, not the kind that throws money on the street for the poor to pick up.
But it is only middle-class families and small rich families who can collect more money, and it is very difficult to collect the money of these shrewd super-rich people.
Because they have long created various foundations to legally avoid inheritance taxes, and middle-class families and small rich families do not have the financial resources and energy to get any charitable foundations.
Why don't you donate shares directly instead of reducing your holdings and cashing out? Because it is possible to avoid taxes legally.
In the name of "charity", most of it is actually to "avoid inheritance tax"
Warren Buffett
Even the super-rich in the United States are afraid of inheritance tax, after all, the exemption amount is $11.8 million, and the above part will be charged as much as 40%.
What is the operation of such a charitable and trust foundation abroad?
The foundation also donates 5% of its assets to charity every year, but as one of the management members of the foundation, he can receive a large annual salary every year, which is a disguised "support" of many rich people for their children.
The establishment of the foundation can effectively restrict the children from losing the family property of their ancestors, the money can not be taken out at will, and all kinds of squandering if they want to start a business, after all, they are not afraid of the rich second generation spending all day and day, but they are afraid of the rich second generation starting a business.
Of course, with the consent of the board of directors, the funds of the foundation can be invested in some projects, so the excess income from the investment is additional money.
Therefore, in another way, let the children of the rich give full play to the value of life on the basis of risk control, and no matter how much they play, they will not go bankrupt.
This kind of "right-handed" game is passed from father to father, father to child, child to grandchild, and 6 generations of families in the West, relying on this kind of "foundation inheritance".
The Franklin Foundation lasted for 200 years, from 1790 to 1991. The Russell Sage Foundation has continued for more than 100 years since its establishment in 1907.
Many people who worship foreigners always feel that the rich in the West are so great, and they have been doing "charity" all their lives.
Don't be blinded by "full of benevolence and morality" donations, just enter the fund to legally avoid the regular operation of inheritance tax.
Laurena
Zuckerberg and his wife established the Chan Zuckerberg Initiative in 2015; Jobs' wife, Laurenna, also set up the "Emerson Foundation" in 2014.
Like the Gates Foundation, this kind of foundation is divided into charity and trust, the trust part can be invested to make money, and the charity part is spent, so it can be said that it is like a pool of living water, and wealth has been flowing.
Charity projects are just the tip of the iceberg of huge wealth, and compared to paying close to 40% of the inheritance tax, using 5% of the wealth to do good deeds every year, and still getting a good name, for the Western super-rich, why not?
Rich people don't just donate money to charity, it's better to give them fish than to give them fish
Buffett's "untrustworthy" also made Ma Yun popular again!
Warren Buffett and Bill Gates
In 2010, Mr. and Mrs. Bill Gates and Warren Buffett co-launched the "The Giving Pledge" program, and unexpectedly, more than 100 super-rich people joined in.
After all, it costs money to have a meal with Warren Buffett, and isn't it better to go directly to the same circle through "like-mindedness"?
But some people just don't want to do it, after all, they are not interested in money.
Bill Gates and Jack Ma
Ma Yun once said in an interview that many years ago, Buffett and Bill Gates came to China to participate in a charity gala, of which Ma Yun also participated, Buffett and Bill Gates wanted Ma Yun to take the lead in the rich circle, that is, donate most of their wealth to "charity" like them.
Unexpectedly, Ma Yun has a high emotional intelligence, asked Buffett's age, Buffett replied that he was over 80, Ma Yun turned the gun and said that he would not do charity until he was 80 years old, and now he is still very young, and he suddenly transferred it with humorous words, decent and polite.
Jack Ma's perception of charity is that it is better to give it a fish than to give it a fish.
There are too many white-eyed wolves in this world, your kindness is more likely to stimulate the evil in the other party's human nature, your good guy card will be taken for granted if you have too many cards, one day you return to yourself, but you have deteriorated in their eyes, give sugar every day, and one day if you don't give it to you, you will be a bad person.
It is okay to help the old, weak, sick and disabled, to help people with normal hands and feet, most of them are lazy people, even if you give gold and silver mountains are not enough for them to lie flat, the story of the farmer and the snake often happens in reality.
What do you think of Warren Buffett going around in circles, or leaving his property to his children to take care of? Please leave your comments and leave a comment.
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