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Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans Monday to hand more than USD 1.1 billion of Berkshire Hathaway stock to four of his family's foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining USD 147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away. He didn't identify the successors, but said his kids all know them and agree they would be good choices. Father time always wins. But he can be fickle indeed unfair and even cruel sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit, the 94-year-old Buffett said in a letter to his fellow shareholders. To date, I've been very lucky, but, before long, he will get ..
At Thanksgiving I have much to be thankful for, Warren Buffet said in a statement Tuesday, announcing that he had gifted 2.4 million Class B shares of Berkshire Hathaway stock to charitable foundations run by his children. The gifts to The Susan Thompson Buffett Foundation, The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation total approximately USD 876 million and are in addition to the regular donations he makes each summer to those foundations and the Bill and Melinda Gates Foundation. This is the second year that Buffett has made additional gifts to the family foundations around Thanksgiving. "My children, along with their father, have a common belief that dynastic wealth, though both legal and common in much of the world including the United States, is not desirable," Buffett said in the statement, adding that after his death, his children would act as trustees of a charitable trust that would inherit 99 per cent of his wealth. The testamentary trust w
A year after omicron began its assault on humanity, the ever-morphing coronavirus mutant drove COVID-19 case counts higher in many places just as Americans gathered for Thanksgiving. It was a prelude to a wave that experts expect to soon wash over the US. Phoenix-area emergency physician Dr Nicholas Vasquez said his hospital admitted a growing number of chronically ill people and nursing home residents with severe COVID-19 this month. It's been quite a while since we needed to have COVID wards," he said. It's making a clear comeback. Nationally, new COVID cases averaged around 39,300 a day as of Tuesday far lower than last winter but a vast undercount because of reduced testing and reporting. About 28,000 people with COVID were hospitalized daily and about 340 died. Cases and deaths were up from two weeks earlier. Yet a fifth of the US population hasn't been vaccinated, most Americans haven't gotten the latest boosters and many have stopped wearing masks. Meanwhile, the virus kee