In a letter to shareholders, Warren Buffet said that he has converted 1,800 A shares into 2,700,000 B shares in order to give these B shares to four family foundations: 1,500,000 shares to The Susan Thompson Buffett Foundation and 400,000 shares to each of The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation. These donations have been delivered today. “I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting,” Buffett said, adding that “Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.”
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