Warren Buffett Sets Up New Trust As He Turns Away From Gates Foundation
Portfolio Pulse from Michael Juliano
Warren Buffett has decided to redirect his fortune to a new charitable trust managed by his children after his death, instead of continuing donations to the Gates Foundation. He will continue his annual gifts to the Gates Foundation and other foundations while alive. Berkshire Hathaway shares were up 0.30% following the announcement.
June 28, 2024 | 2:30 pm
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Warren Buffett's decision to redirect his fortune to a new trust managed by his children after his death, instead of the Gates Foundation, may impact investor sentiment. Berkshire Hathaway shares rose 0.30% following the announcement.
The news highlights Buffett's long-term plans for his fortune, which may reassure investors about the stability and future direction of Berkshire Hathaway. The immediate positive price action suggests a favorable market reaction.
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