Warren Buffett, the head of Berkshire Hathaway, revealed that he personally made the decision to invest $30 billion in Alphabet's shares. He also announced plans to accelerate the process of selling his assets, according to CNBC.
Despite widespread market expectations that the acquisition of shares in Google's parent company was initiated by the new CEO Greg Abel, Buffett confirmed that he was the one behind the deal. “I initiated this,” the investor stated, adding that the tech giant has a greater chance of success than 90% of Wall Street's proposals. Meanwhile, the holding's largest asset remains Apple, with a share value estimated at $76 billion.
At the same time, the billionaire announced a radical change in his charitable strategy. He is halting long-term donations to the Bill Gates Foundation, to which he has donated around $48 billion over the last two decades, and is transferring the management of his funds to the foundations of his three children. To complete the distribution of his wealth, the investor plans to fully divest from his Berkshire Hathaway shares over the next eight years.
