- June 24, 2021
- Posted by: Stratford Team
- Category: Business
Warren Buffett said trading platforms like Robinhood encourages a ‘gambling impulse.’ UBS managing director and senior portfolio manager Jason Katz weighs in.
Billionaire investor Warren Buffett announced on Wednesday that he was halfway to his goal of distributing more than 99% of his net worth to charity, and he also detailed the tax savings he received along the way.
Buffett explained in a letter that in 2006 he pledged to distribute all of his Berkshire Hathaway shares to charity. At the time he owned 474,998 “A” shares and said on Wednesday he has about 238,624 shares, worth about $100 billion, to go.
The legendary investor noted that philanthropy is a hot topic, which he thought was appropriate because “all or a portion of philanthropic contributions can generate significant tax deductions for the donor.”
“That benefit, however, is far from automatic,” Buffett explained.
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