Berkshire Hathaway: PDF document

"The donations itemized above repeat those made at Thanksgiving last year. They supplement certain of the lifetime pledges I made in 2006 and that continue until my death (at 93, I feel good but fully realize I am playing in extra innings). The 2006 pledges, available at berkshirehathaway.com, include various conditions, all of which continue to be met by the recipients.

My three children are now – and this is hard for their father to believe – between 65 and 70 years of age. For some years, their foundations have distributed substantial sums, occasionally to the same donee. Usually, however, the three follow different paths.

My children, along with their father, have a common belief that dynastic wealth, though both legal and common in much of the world including the United States, is not desirable. Moreover, we have had many opportunities to observe that being rich does not make you either wise or evil. We also agree that capitalism – whatever its weaknesses, including the vast disparities in wealth and political influence that it delivers somewhat capriciously to its citizens – has worked wonders and continues to work wonders.

The United States is exhibit A for that belief, and the four of us feel lucky that we beat very long odds when we were born in the U.S."

Happy Thanksgiving