The bulk of Warren Buffett’s $93.4 billion estate could go to his little-known family foundation that supports abortion rights – and not to the Gates Foundation as executives have been planning.
For years, executives at the Gates Foundation have expected the billionaire to donate the majority of his shares in his company, Berkshire Hathaway, to the global organization after he dies – and have been discussing how best to use the money, according to the Wall Street Journal.
He had previously pledged in 2006 to earmark 85 percent of his stock in his company for charity – with five-sixth of the shares going to the Gates Foundation over the course of his lifetime.
From there, he pledged to give a set, annually declining number of Berkshire “B” shares, to the Gates Foundation as well as the four foundations run by his family members, according to Fortune.
But his 2006 letter was vague about what would happen to his fortune when he dies, with Buffett only writing at the time to the Gateses:…