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Warren Buffett Has A Lot To Be Thankful For — And A Lot To Say About It

You look at somebody like Warren Buffett — perhaps the most successful investor of all time — and it's easy to assume that he's caught up in how much money he has. After all, his net worth is north of $118 billion.

But that's not the case. For example, he still lives in the house he purchased 65 years ago for $31,500. He drives his cars until the wheels fall off. In other words, he has a lot to be thankful for, and it's not all about the money.

If you dream of following Buffett's path to wealth, investing in alternative assets — such as startup companies — could be the right strategy.

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In a press release shared by Berkshire Hathaway Inc., Buffett announced the following:

"Warren E. Buffett converted 1,600 A shares into 2,400,000 B shares in order to give these B shares to four family foundations: 1,500,000 shares to The Susan Thompson Buffett Foundation and 300,000 shares to each of The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation. These donations have been delivered today."

This is just another example of his generosity toward others. But it doesn't end there. Here are some other interesting takeaways from the release.

  • Buffett reaffirmed the donations made last Thanksgiving, supplementing his lifetime pledges from 2006, which continue as he approaches age 93.

  • The 2006 pledges, detailed on the Berkshire Hathaway website, maintain their conditions, consistently met by their recipients.

  • Buffett acknowledges being in the advanced stage of life.

  • His children, now between 65 and 70, manage their foundations, often donating to different causes, reflecting diverse philanthropic paths.

  • Buffett and his children hold a common view against dynastic wealth, believing that wealth doesn’t automatically confer wisdom or morality. They recognize capitalism’s strengths and flaws.

  • His children are the executors of his will and trustees of a charitable trust, set to receive over 99% of his wealth. They are now fully prepared for this responsibility.

  • The trust mandates unanimous decision-making by his children and will adapt to changing philanthropy laws, with successors in place for continuity.

  • The trust is designed to self-liquidate within approximately a decade, operating with a lean staff and primarily funded by Berkshire shares.

  • Berkshire Hathaway, as described by Buffett, is a robust, diversified company with competent leadership, poised to maintain its integrity and success post-Buffett's tenure.

  • Buffett emphasized the transparency of his asset distribution after his death, opting for a straightforward will without complex trusts or foreign entities.

  • Expressing gratitude during Thanksgiving, Buffett extended his best wishes to his partners and their families in Berkshire Hathaway.

As you can see, Buffett is in a position to do unique things for others. And he's taking full advantage of that.

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This article Warren Buffett Has A Lot To Be Thankful For — And A Lot To Say About It originally appeared on Benzinga.com

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