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News on Medial
Warren Buffett made the biggest charitable donation in 2023 worth $541.5 million
Livemint
·
1y ago
Medial
Warren Buffett emerged as the biggest charity donor of 2023, with a $541.5 million donation to the Susan Thompson Buffett Foundation. This donation, which was not part of his annual contributions, topped the Chronicle of Philanthropy's list of the largest charitable donations in 2023. Other notable donors on the list include James and Marilyn Simons, Ross Brown, and Phil and Penny Knight.
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Warren Buffett donates $1.1 billion worth Berkshire Hathaway stock, outlines succession plan for $147 billion fortune | Company Business News
Livemint
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9m ago
Medial
Billionaire investor Warren Buffett has donated over $1.1 billion worth of Berkshire Hathway stocks to his family's charities and foundations. Along with the donation, Buffett outlined succession plans for his $147.4 billion fortune. He stated that his three children would inherit his fortune over a period of 10 years after his death, but also designated an undisclosed successor in case they die before receiving their full inheritance. Buffett reiterated his belief in not creating dynastic wealth and emphasized the importance of allowing families to read their wills while they are still alive to avoid conflicts.
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Warren Buffett backs Occidental deal with $590 million stock purchase
Livemint
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1y ago
Medial
Warren Buffett's Berkshire Hathaway has purchased nearly $590 million worth of Occidental Petroleum stock following the Texas oil company's agreement to acquire CrownRock LP. The purchases were made in multiple tranches, increasing Berkshire's stake in Occidental to over 27%. Although Occidental didn't need financial assistance from Buffett for the CrownRock deal, his purchases signal support for the acquisition.
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‘Gates Foundation has no money coming after my death’: Warren Buffett changes his will
Livemint
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1y ago
Medial
Warren Buffett has updated his will to redirect his fortune away from the Bill & Melinda Gates Foundation after his death. In an interview with the Wall Street Journal, Buffett stated that his wealth will now go to a new charitable trust overseen by his three children, as he has full trust in their values and ability to manage his philanthropic legacy. Previously, Buffett had pledged most of his estate to the Gates Foundation and other family-related charities. Despite the changes in his will, he continues to donate to the Gates Foundation during his lifetime.
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Warren Buffett to donate $6B to five foundations
YourStory
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2m ago
Medial
Warren Buffett is donating $6 billion worth of Berkshire Hathaway stock to five foundations, increasing his total contributions since 2006 to approximately $60 billion. The largest portion, 9.4 million shares, will go to the Bill and Melinda Gates Foundation. Other recipients include the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Buffett emphasizes his conservative investment approach and attributes his wealth to sound decisions, the American market, and compounding effects.
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Income tax filing | Missing Form 10BE: Why donors are forgoing tax deduction benefits
Money Control
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1y ago
Medial
From Assessment Year 2022-23 onwards, donors in India need to follow a two-step process to claim tax deductions for donations. They must collect a donation receipt at the time of donation, and after the financial year ends, obtain a donation certificate or Form 10BE to claim the tax benefit in their income tax returns. This change was made to reduce fake donation claims and unaccounted money conversion frauds. However, the process has created difficulties for donors, especially when charitable trusts and NGOs do not generate the necessary Form 10BE.
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Warren Buffet pays tribute to Charlie Munger in letter to shareholders
Livemint
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1y ago
Medial
Warren Buffett praised his late partner, Charlie Munger, as the architect of Berkshire Hathaway in his annual letter to shareholders. This is Buffett's first letter without Munger, who passed away in November 2023. Buffett credits Munger with shaping Berkshire's success and guiding him away from bad investment habits. Berkshire Hathaway reported strong fourth-quarter earnings, with its insurance business benefiting from improved underwriting. The conglomerate's net income reached a record $96.2 billion, boosted by the rising stock market. Berkshire also spent $9.2 billion on share repurchases in 2023.
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Apple is Buffett’s best investment. It’s also now one of his riskiest.
Livemint
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1y ago
Medial
Warren Buffett's investment in Apple has been both surprising and risky. Berkshire Hathaway began buying Apple shares in 2016, despite the fact that Buffett and his partner Charlie Munger had traditionally avoided such investments. However, the move has paid off, with Berkshire's stake in Apple now worth around $157 billion. Despite this success, Apple is facing challenges such as antitrust issues and a slowdown in sales in China. As Buffett approaches retirement, the question arises of what his successors will do with the large Apple holding.
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MacKenzie Scott is worth $36 billion and has 'revolutionized philanthropy' since divorcing Amazon founder Jeff Bezos
Business Insider
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1y ago
Medial
Jeff Bezos, founder of Amazon, was married to MacKenzie Scott for 25 years. Following their divorce, Scott became one of the world's richest women, worth $36 billion. In 2022 and 2023, Scott made significant charitable donations, giving away almost $2 billion to various organizations each year. Her philanthropic efforts have been highly regarded, with many acknowledging her as a transformative figure in the field. However, her approach has faced criticism from Elon Musk, who made derogatory comments about wealthy divorced individuals engaging in philanthropy. Scott's charitable giving has focused on issues related to race and gender.
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Berkshire Hathaway Class A stock is selling at a discount.
Livemint
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2m ago
Medial
Berkshire Hathaway's Class A shares are currently selling at a slight discount compared to the Class B shares. CEO Warren Buffett advises investors to consider purchasing Class A shares, despite their higher price tag. These shares, worth 1,500 times more than B shares, have been part of Berkshire Hathaway's offerings for nearly 30 years. This recommendation comes amid market fluctuations, positioning Class A shares as a potentially more valuable investment choice.
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Warren Buffett details Berkshire’s Apple, Chevron and Capital One sales while also buying more Chubb
Livemint
·
1y ago
Medial
Warren Buffett has confirmed that he sold over 389 million Apple shares during the second quarter of this year. However, Berkshire Hathaway still holds 400 million shares, making it the conglomerate's largest holding in its stock portfolio. Berkshire has also reduced its investments in Bank of America, Chevron, Capital One, Floor & Decor Holdings, T-Mobile, Louisiana Pacific, and sold its nearly $1 billion Snowflake investment. Berkshire has a cash pile of $277 billion, a record high. Additionally, Berkshire increased its investments in Chubb and Occidental Petroleum, and made smaller investments in Heico Corp. and Ulta Beauty.
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