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No Plans for Buffet to Retire

Before you take the news that Warren Buffet is donating his billions and becoming a trustee of the Bill & Melinda Gates Foundation by donating $31 billion of his fortune to that organization means that he is retiring from Berkshire Hathaway, think again. The second richest man in the world has no immediate plans to retire at 74 years of age. According to Berkshire Hathaway, ?Mr. Buffett has no plan or desire to step down from his position as Chairman and Chief Executive Officer of Berkshire Hathaway.?

Eighty-five percent of Mr. Buffet?s fortune ? estimated to be at least or more than $44 billion ? was gifted to a series of different charitable organizations, of which only one (albeit the biggest donation) was the Bill & Melinda Gates Foundation. He has stated that he always intended to donate his billions to philanthropic causes, though it was largely assumed that such donations would take place upon his passing. However, Buffet surprised the world with his stunning announcement earlier this week.

The shares to the Bill & Melinda Gates Foundation will be in the form of shares, and will continue yearly based on the amount of the shares selling prices. Berkshire Hathaway is based out of Omaha, Nebraska. And as for hearing it from the horse?s mouth: ?I am having so much fun at doing what I do,? Mr. Buffet remarked in March of this year.