Buffett will convert part of his Berkshire Hathaway holdings to donate to four family foundations.

Jinshi Data News on November 26th, Berkshire Hathaway announced on November 25th that Buffett will convert 1600 Class A shares into 2.4 million Class B shares in order to donate the Class B shares to four family foundations. Among them, about 1.5 million Class B shares were given to the Susan Thompson Buffett Foundation, while 300,000 Class B shares were given to the Sherwood Foundation, the Howard Buffett Foundation, and the NoVo Foundation. “After today’s gift, the number of Berkshire Hathaway Class A shares I hold has dropped to 206,363 shares, a decrease of 56.6% compared to when the commitment was made in 2006,” Buffett said. Buffett also stated that his children will be fully responsible for gradually distributing all of his Berkshire Hathaway shares after his death.