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Fortune

Sasha Rogelberg

Warren Buffett gives $1 billion of Berkshire Hathaway shares to family charities

Warren Buffett Peter Buffett Susie Buffett Warren Buffet Berkshire Hathaway Berkshire

Warren Buffett gesturing with his right hand and speaking with a group behind him. (Credit: J. Countess/Getty Images)

Warren Buffett is distributing an additional $1 billion of his fortune to his family’s foundations and has designated three potential successor trustees.

The 94-year-old CEO and chairman of Berkshire Hathaway announced in a letter Monday that he plans to convert 1,600 company A shares into 2.4 million B shares, worth about $1.14 billion. He’ll then distribute 1.5 million of the shares to the Susan Thompson Buffett Foundation, named for his late wife, and 300,000 to each of his three children’s foundations.

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