Warren Buffet's estate could go to his family foundation

Billionaire Warren Buffet’s $93.4 亿万财产可以捐给他支持堕胎权利的家庭基金会,而不是像他承诺放弃后所预期的那样捐给盖茨基金会 99% of his wealth after his death

  • The bulk of Warren Buffett’s $93.4 billion estate could go to his little-known family foundation that supports abortion rights
  • 多年, executives at the Gates Foundation have expected the billionaire to donate the majority of his shares in his company, 伯克希尔·哈撒韦公司, at death
  • They have reportedly been planning how best to use the moneyeven suggesting setting up a world children’s savings bank
  • But the Wall Street Journal reports that the Susan Thompson Buffett Foundation is hiring additional staff and is expecting an influx of money
  • Staff there are reportedly expecting to receive $70 至 $100 十亿, which they plan to use on both international and United States efforts
  • The organization has previously donated millions of dollars to pro-abortion groups across the United States
  • Its website, 虽然, only focuses on the scholarships it gives out to students in Buffett’s home state of Nebraska
  • The bulk of Warren Buffett’s $93.4 billion estate could go to his little-known family foundation that supports abortion rightsand not to the Gates Foundation as executives have been planning.

    多年, executives at the Gates Foundation have expected the billionaire to donate the majority of his shares in his company, 伯克希尔·哈撒韦公司, to the global organization after he diesand have been discussing how best to use the money, 根据 华尔街日报.

    He had previously pledged in 2006 to earmark 85 percent of his stock in his company for charitywith five-sixth of the shares going to the Gates Foundation over the course of his lifetime.

    从那里, he pledged to give a set, annually declining number of Berkshire “乙” 分享, to the Gates Foundation as well as the four foundations run by his family members, 根据 发财.

    But his 2006 letter was vague about what would happen to his fortune when he dies, with Buffett only writing at the time to the Gateses: ‘I will soon write a new will that will provide for a continuance of this commitment by distribution of the remaining earmarked shares or in some other manner after my death.

    He then announced in 2010 he planned to give away 99 percent of his wealth after he dies, saying in a Giving Pledge ‘my family and I will give up nothing we need or want by fulfilling this 99% pledge.

    现在, the Journal reports, the Susan Thompson Buffett Foundationnamed for his late wife and run by his son-in-law Allen Greenbergis hiring additional staff and is planning to spend a massive amount of money it is expecting to receive, with Buffett turning 92 在八月.

    The organizationwhich has reportedly donated large sums to abortion rights groups and is largely run by Buffett’s friends and family, with many of his children and grandchildren serving on the boardhas expanded recently to add staff in Washington DC and Rwanda.

    It is now also reportedly looking at ways to spend a large sum of moneyestimated to be $70 至 $100 十亿 – on both international and United States efforts, focusing on reproductive health and primary healthwhich could include expanding into vaccinations and infectious diseases, an area in which the Gates Foundation has become globally focused.

    Warren Buffett may wind up donating a large sum of his $93.4 billion to the foundation his late wife, 苏珊, 剩下, 成立于 1964 - which donates large sums to abortion groups

    Warren Buffett may wind up donating a large sum of his $93.4 billion to the foundation his late wife, 苏珊, 剩下, 成立于 1964 – which donates large sums to abortion groups

    巴菲特, 对, 现在 91, has previously pledged in 2006 to earmark a majority of his shares in his company, 伯克希尔·哈撒韦公司, going to the Gates Foundation over the course of his lifetime - and company executives had expected to receive a large amount of his unpledged shares after he dies

    巴菲特, 对, 现在 91, has previously pledged in 2006 to earmark a majority of his shares in his company, 伯克希尔·哈撒韦公司, going to the Gates Foundation over the course of his lifetimeand company executives had expected to receive a large amount of his unpledged shares after he dies

    The Susan Thompson Buffett foundation was founded in 1964 by his then wifewho was apparently an activist for abortion rights and access to contraceptivesto provide scholarships to students in Buffett’s home state of Nebraska.

    它的 网站 also only describes the scholarships that it gives out, with information on how to apply.

    On the bottom of the site, 它说: ‘The Susan Thompson Buffett Foundation responds to questions about college scholarships only. The Foundation does not respond to other inquiries.

    But according to the Journal, the organization has spent the bulk of its funds on abortion access and reproductive health issues.

    It usually makes its donations anonymously, in keeping with Susan Buffett’s desire to focus on organizations that do the work rather than those that write the checks, unnamed sources told the Journal.

    And the majority of its checks go to organizations like Planned Parenthood, the Center for Reproductive Rights and the National Network of Abortion.

    之间 2000 和 2018, it poured $4 billion into organizations that lobby for abortion rights, 根据 Capital Research Center, and of that $4 十亿, it paid about $675 million to Planned Parenthood of America and its international and state-level affiliates.

    It also reportedly donated more than $112 million to the Guttmacher Institute, a pro-abortion rights think-tank, 和 $293 million to the National Abortion Federation.

    Susan Thompson Buffett, pictured in an undated photo with Warren and their daughter, also named Susan, was a staunch supporter of abortion rights

    Susan Thompson Buffett, pictured in an undated photo with Warren and their daughter, also named Susan, was a staunch supporter of abortion rights

    Buffett has previously said he let his wife set up the organization in 1964 because he knew little about philanthropy.

    But after Susan died in 2004 在...的年龄 72, he decided to get more involved in philanthropyand instead focused his efforts on the Gates Foundation, which was then run by the world’s wealthiest couple.

    He said at the time he decided to partner with Bill and Melinda French Gates because he trusted they could do a better job giving away the money to help society and fund vaccine and infectious disease causes than the smaller Susan Thompson Buffett Foundation.

    ‘I came to realize that there was a terrific foundation that was already scaled upthat wouldn’t have to go through the real grind of getting to a megasize like the Buffett Foundation wouldand that could productively use my money now,’ he told Fortune magazine at the time.

    The Buffett Foundation only had about $270 million in assets as of 2006, 据《华尔街日报》报道, and in another letter, Buffett announced he would earmark shares worth about $3 billion to the foundation.

    A third set of shares would be divided equally among three foundations headed by his childrenand pledged additional shares to the organizations in 2012.

    After Susan died, Buffett focused his efforts on the Gates Foundation, which was then run by the world's wealthiest couple

    After Susan died, Buffett focused his efforts on the Gates Foundation, which was then run by the world’s wealthiest couple

    Following Bill and Melinda Gates' public split, Buffett announced he was stepping down from the board - but he and Bill Gates deny still seem to have a friendship

    Following Bill and Melinda Gatespublic split, Buffett announced he was stepping down from the boardbut he and Bill Gates deny still seem to have a friendship

    After Buffett's latest donation to the Gates Foundation earlier this month, Bill Gates tweeted that the donations 'move me to tears'

    After Buffett’s latest donation to the Gates Foundation earlier this month, Bill Gates tweeted that the donations ‘move me to tears

    Expecting to get the most money upon Buffett’s death, 虽然, the Journal reports, the Gates Foundation’s chief executives, dozens of employees and consultants from management consulting firm McKinsey and Co participated in a years long analysis and plan they dubbed Project Lincoln.

    One of the ideas was to create a world children’s savings bank, where each child would receive thousands of dollars, 据《华尔街日报》报道.

    But over the years, it seems Buffett, 现在 91, has grown displeased with the Gates Foundation.

    Sources close to the discussions told the Journal that Buffett has shared his displeasure with what he viewed as the bloated size of the foundation, and asked for the headcount to be cappedwhich led to job cuts in 2015.

    He also reportedly took issue with the number of consultants the foundation hired.

    最终, Buffett started skipping out on board meetings, the Journal reports, and just months after Bill and Melinda Gates announced they were calling it quits, Buffett announced he would stepping down from the board.

    ‘My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals,’ he said in a statement last year.

    He also said he is dedicated to donating more money to the charity instead of donating his time, calling the work of people who donate both time and effort ‘a much more admirable form of philanthropy than mine.

    Both Gates and Buffett have since denied that his stepping-down was related to the Gates’ 离婚, with Buffett continuing to visit his old friend.

    And after he donated his latest donation to the Gates Foundation, Gates tweeted: ‘I’m grateful for Warren’s gifts to support the foundation’s work and for our many years of friendship.

    ‘When he decided in 2006 to make these gifts, it moved me to tears. It still does.