The American businessman Warren Buffett94 years old, made public his position on the “dynastic wealth” and the importance of addressing family wills before death.
In a statement issued this November 25, Buffett, known as the “Oracle of Omaha” for his renowned investment wisdom, he revealed that he will donate 1.2 billion dollars in shares of his conglomerate Berkshire Hathaway to his family foundations.
However, he also took the opportunity to reflect on his life, his legacy and his approach to the distribution of his fortune, expressing his rejection of the perpetuation of family wealth across generations.
Buffett explained that, although he trusts that his three children, Susie, Howie y Petermanage your wealth, you already have younger “successors” in mind, in case your children do not live long enough to carry out the complete distribution of your assets.
In his words: “I never desired to create a dynasty or sought any plan that extended beyond the children”, while underscoring his belief that “Tomorrow’s decisions will probably be made better by three living, well-directed brains than by a dead hand.”.
The businessman highlighted the difficulty of foreseeing the priorities and capacity of future generations to manage an extraordinary fortune, suggesting that the ideal would be to leave the children “enough so that they can do anything, but not enough so that they allow themselves not to.” do nothing.”
In his statement, Buffett acknowledged that, given his advanced state of healthis aware that his death is “closer than far.”
In 2006, Buffett pledged to donate more than 99% of your assets to philanthropic causes, and now, with this new donation of $1.2 billion, it continues to fulfill that commitment.
The businessman also offered crucial advice for all parents: “When your children are mature, have them read your will before signing it”, he commented, noting that this process must be carried out to avoid misunderstandings that may arise after death.
According to Buffett, many family problems related to inheritance arise when the will is not previously discussed, generating confusion, jealousy or resentment among family members. In his experience, when a will is addressed with time and clarity, it can serve to strengthen family ties and avoid unnecessary disputes.
Throughout his letter, the businessman also reflected on the context that allowed him to get to the place where he is today.
He recognized that his success is not only due to his talent or effort, but also to the luck that he had at birth in 1930 in USA being “a white man,” which allowed him access to opportunities he otherwise would not have had. This recognition of his racial and social privilege allowed him to take a broader view of the inequalities inherent in the distribution of wealth.
Furthermore, the investment magnate highlighted that the equal opportunities should begin from birth, and that ostentatious lifestyles, promoted by those who seek to display their wealth in an exaggerated manner, should be legal, but not admirable.
(With information from EFE)
