Warren Buffett has said that his wife’s inheritance from his $1.4 billion net worth will all be going into one specific investment.
Buffett is known as being one of the most successful investors in the world, having seen huge financial success for his firm, Berkshire Hathaway.
In fact, from the year 1964 to 2023, the company saw an incredible gain of a whopping 4,384,748%.
And it turns out that the very successful businessman has a specific plan in place for how his money will be used in his will.
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This was all revealed in a letter Buffett wrote to his shareholders in 2013 where he said: “One bequest provides that cash will be delivered to a trustee for my wife’s benefit.
“My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund.”
It was previously revealed that the billionaire would no longer be gifting his family $10,000 every Christmas after he uncovered what they were spending the cash on.
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The annual tradition of giving his family members $10,000 each in hundred dollar bills has come to an end according to Mary Buffett, who is Buffett’s former daughter-in-law having been married to his son Peter.
This is reportedly because recipients would soon start spending the cash, often blowing it all after Christmas Day, rather than putting it to use.
So, the successful investor decided to change his tack but he didn’t leave them empty handed as instead he began to buy shares for them.
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Speaking to ThinkAdvisor back in 2019, Mary said: “One Christmas there was an envelope with a letter from him. Instead of cash, he’d given us $10,000 worth of shares in a company he’d recently bought, a trust Coca-Cola had. He said to either cash them in or keep them.”
She continued: “I thought ‘Well, [this stock] is worth more than $10,000.’ So I kept it, and it kept going up.”
Buffett is known for his strategic investments and has shed light in the past on how he made his billions.
In a meeting in 2020, Buffett said: “You shouldn’t buy stocks unless you expect...to hold them for a very extended period and you are prepared financially and psychologically to hold them the same way you would hold a farm, and never look at a quote. You don’t need to pay attention to them.”