Warren Buffett converts 1,600 A shares into 2.4 million B shares to family foundations

OMAHA (dpa-AFX) – Renowned investor, philanthropist and chairman and CEO of Berkshire Hathaway Inc. (BRK.A; BRK.B) Warren Buffett announced the conversion of 1,600 A shares into 2.4 million B shares in order to provide the B shares to four family foundations.

Buffet announced during Thanksgiving week the delivery of 1.5 million shares to the Susan Thompson Buffett Foundation and 300,000 shares to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

Commenting on the donations, 93-year-old Buffett said these donations are a fulfillment of his lifelong promises he made in 2006. receive 99% plus of my assets according to the terms of the will. In 2006 they weren’t fully prepared for this tremendous responsibility, but now they are.’

He continued, “After my death, the disposition of my assets will be an open book – no ‘imaginative’ trusts or foreign entities to avoid public scrutiny, but rather a simple will available for inspection at the Douglas County Courthouse.”

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