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Joe Biden begins final White House holiday season with turkey pardons for 'Peach' and 'Blossom' WASHINGTON (AP) — President Joe Biden has kicked off his final holiday season at the White House, issuing the traditional reprieve to two turkeys who will bypass the Thanksgiving table to live out their days in Minnesota. The president welcomed 2,500 guests under sunny skies as he cracked jokes about the fates of “Peach” and “Blossom.” He also sounded wistful tones about the last weeks of his presidency. Later Monday, first lady Jill Biden will receive delivery of the official White House Christmas tree. And the Bidens will travel to New York to help serve a holiday meal at a Coast Guard station. Warren Buffett gives away another $1.1B and plans for distributing his $147B fortune after his death OMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans Monday to hand more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it’s possible that Buffett’s children could die before giving it all away. Buffett said he has no regrets about his decision to start giving away his fortune in 2006. Bah, humbug! Vandal smashes Ebenezer Scrooge's tombstone used in 'A Christmas Carol' movie LONDON (AP) — If life imitates art, a vandal in the English countryside may be haunted by The Ghost of Christmas Yet to Come. Police in the town of Shrewsbury are investigating how a tombstone at the fictional grave of Ebenezer Scrooge was destroyed. The movie prop used in the 1984 adaption of Charles Dickens' “A Christmas Carol” had become a tourist attraction. The film starred George C. Scott as the cold-hearted curmudgeon who is visited by three ghosts on Christmas Eve who show him what will become of his life if he doesn’t become a better person. West Mercia Police say the stone was vandalized in the past week. At the crossroads of news and opinion, 'Morning Joe' hosts grapple with aftermath of Trump meeting The reaction of those who defended “Morning Joe” hosts Joe Scarborough and Mika Brzezinski for meeting with President-elect Trump sounds almost quaint in the days of opinionated journalism. Doesn't it makes sense, they said, for hosts of a political news show to meet with such an important figure? But given how “Morning Joe” has attacked Trump, its viewers felt insulted. Many reacted quickly by staying away. It all reflects the broader trend of opinion crowding out traditional journalist in today's marketplace, and the expectations that creates among consumers. By mid-week, the show's audience was less than two-thirds what it has typically been this year. Pop star Ed Sheeran apologizes to Man United boss Ruben Amorim for crashing interview MANCHESTER, England (AP) — British pop star Ed Sheeran has apologized to Ruben Amorim after inadvertently interrupting the new Manchester United head coach during a live television interview. Amorim was talking on Sky Sports after United’s 1-1 draw with Ipswich on Sunday when Sheeran walked up to embrace analyst Jamie Redknapp. The interview was paused before Redknapp told the pop star to “come and say hello in a minute.” Sheeran is a lifelong Ipswich fan and holds a minority stake in the club. He was pictured celebrating after Omari Hutchinson’s equalizing goal in the game at Portman Road. A desert oasis outside of Dubai draws a new caravan: A family of rodents from Argentina AL QUDRA LAKES, United Arab Emirates (AP) — A desert oasis hidden away in the dunes in the far reaches of skyscraper-studded Dubai has drawn a surprising new set of weary world travelers: a pack of Argentinian rodents. A number of Patagonian mara, a rabbit-like mammal with long legs, big ears and a body like a hoofed animal, now roam the grounds of Al Qudra Lakes, typically home to gazelle and other desert creatures of the United Arab Emirates. How they got there remains a mystery in the UAE, a country where exotic animals have ended up in the private homes and farms of the wealthy. But the pack appears to be thriving there and likely have survived several years already in a network of warrens among the dunes. New Zealanders save more than 30 stranded whales by lifting them on sheets WELLINGTON, New Zealand (AP) — More than 30 pilot whales that stranded themselves on a beach in New Zealand have been safely returned to the ocean after conservation workers and residents helped to refloat them by lifting them on sheets. New Zealand’s conservation agency said four whales died. New Zealand is a whale stranding hotspot and pilot whales are especially prolific stranders. The agency praised as “incredible” the efforts made by hundreds of people to help save the foundering pod. A Māori cultural ceremony for the three adult whales and one calf that died in the stranding took place Monday. Rainbow-clad revelers hit Copacabana beach for Rio de Janeiro’s pride parade RIO DE JANEIRO (AP) — Thousands of revelers have gathered alongside Copacabana beach for Rio de Janeiro’s annual gay pride parade, many scantily dressed and covered in glitter. Rainbow-colored flags, towels and fans abounded among the crowd mostly made up of young revelers, who danced and sang along to music blaring from speakers. While the atmosphere was festive, some spoke of the threat of violence LGBTQ+ people face in Brazil. At least 230 LGBTQ+ Brazilians were victims of violent deaths in 2023, according to the umbrella watchdog group Observatory of LGBTQ+ deaths and violence in Brazil. Stolen shoe mystery solved at Japanese kindergarten when security camera catches weasel in the act TOKYO (AP) — Police thought a shoe thief was on the loose at a kindergarten in southwestern Japan, until a security camera caught the furry culprit in action. A weasel with a tiny shoe in its mouth was spotted on the video footage after police installed three cameras in the school in the prefecture of Fukuoka. “It’s great it turned out not to be a human being,” said Deputy Police Chief Hiroaki Inada. Teachers and parents had feared it could be a disturbed person with a shoe fetish. Japanese customarily take their shoes off before entering homes. The vanished shoes were all slip-ons the children wore indoors, stored in cubbyholes near the door. Social media sites call for Australia to delay its ban on children younger than 16 MELBOURNE, Australia (AP) — An advocate for major social media platforms has told Australia's Parliament that a plan to ban children younger than 16 from the sites should be delayed rather than being rushed to approval this week. Sunita Bose is managing director of Digital Industry Group Inc. which is an advocate for the digital industry in Australia including X, Instagram, Facebook and TikTok. She was answering questions on Monday at a single-day Senate committee hearing into world-first legislation that was introduced into the Parliament last week. Bose said the Parliament should wait until the government-commissioned evaluation of age assurance technologies is completed next year.THE NOTION of surveillance cameras hovering over Newcastle Ocean Baths (NOB) and Merewether Ocean Baths (MOB) might send a shiver down the spines of the privacy-obsessed, diehard defenders of the invisible life. Login or signup to continue reading But CCTV at both ocean baths isn't about Big Brother or faceless technocrats sticking their nosey beaks into our seaside sanctuaries. It is about common sense, but it's also a tale of two Hunter councils - Newcastle and Lake Macquarie - and how those councils choose to respond to a few straightforward questions about CCTV. What is at stake here isn't a right to anonymity while baring arms in a public space, but the safety, security, and sanctity of the very places the community holds dear. What happens when a brawl breaks out? Or when a tourist's backpack vanishes with passports and cash? Or when perverts pervert? Or when, as was reported on the social media page of Friends of Newcastle Ocean Baths on December 16, a set of car keys, and subsequently the car they unlocked, were stolen. I asked the City of Newcastle (CN) and Lake Macquarie City Council (LMCC) three questions: (1) how many CCTV cameras have been installed by council and the locations of these cameras; (2) what policy council has regarding the installation and use of CCTV; and, (3) if I may have a copy of that policy? The response from a CN spokesperson was: "All NSW Councils are subject to State Government guidelines regarding CCTV, which states that 'CCTV can be effective in reducing crime if it is part of a broader crime prevention and community safety strategy. CCTV is not recommended as an isolated response to addressing crime in public spaces'." "City of Newcastle notes that while CCTV may assist NSW Police with prosecution, it does not prevent acts of theft or vandalism and its unregulated use at recreational facilities poses issues around privacy and cost. CCTV monitoring and evidence management for police investigations divert resources from core duties and ongoing technological upgrades are required at cost to councils. Therefore, it is not City of Newcastle's intent to install CCTV at either the Newcastle or Merewether Ocean Baths at this stage. Patrons can bring their own locks and use the lockers in the changerooms located at both ocean baths if they are concerned about the safety of their valuables. If you are a victim of crime, please contact CrimeStoppers on 1800 333 000." I still don't know, and neither do you, if CN does, or does not, have CCTV. Perhaps the existing CCTV at Foreshore Park facing the new, under-construction amenities block was disconnected, as it may have been viewed by CN as an isolated response to crime prevention. Lord mayor Ross Kerridge told me he wanted to revisit CN's position on CCTV in the first quarter of 2025 and would seek community engagement around the matter. In contrast to CN's response, a LMCC spokesperson gave me a copy of their CCTV policy, which answered my questions and acknowledged that LMCC has "more than 50 CCTV cameras across the LGA, mostly installed for site security, monitoring of illegal rubbish dumping sites (these are temporary and are moved around as needed) or internally/at entranceways for building and visitor security (such as at our libraries, pools and cultural facilities). Council has CCTV cameras deployed to address antisocial behaviour at four sites across the city, at Charlestown, Toronto and Windale". I'm not advocating the placement of cameras at NOB and MOB on every light post and seagull perch. Recorded footage doesn't need to feed into some shadowy database to be analysed by artificial intelligence for signs of insurrection. Keep it local, keep it simple. Transparency is key; let the community know where the cameras are, what they're for, and how the footage will be used. CCTV is no silver bullet, but a way of saying "we see you," both to those who would do harm and to those who simply want to swim, and breathe the salty air without looking over their shoulders, or being told the only option when a crime occurs is to call CrimeStoppers. CCTV at our ocean baths is not about losing our freedom; it's about protecting it, one frame at a time. DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. 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Barclays PLC lifted its position in shares of The Duckhorn Portfolio, Inc. ( NYSE:NAPA – Free Report ) by 214.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 234,138 shares of the company’s stock after acquiring an additional 159,668 shares during the period. Barclays PLC owned approximately 0.16% of Duckhorn Portfolio worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission. Several other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Duckhorn Portfolio by 16.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,675 shares of the company’s stock worth $154,000 after purchasing an additional 3,129 shares during the last quarter. Sei Investments Co. increased its stake in shares of Duckhorn Portfolio by 7.6% in the 2nd quarter. Sei Investments Co. now owns 54,093 shares of the company’s stock valued at $384,000 after purchasing an additional 3,829 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Duckhorn Portfolio during the 3rd quarter worth $31,000. Rhumbline Advisers lifted its position in shares of Duckhorn Portfolio by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 79,865 shares of the company’s stock worth $567,000 after buying an additional 5,497 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Duckhorn Portfolio by 56.6% in the second quarter. American Century Companies Inc. now owns 23,064 shares of the company’s stock valued at $164,000 after buying an additional 8,335 shares in the last quarter. Wall Street Analyst Weigh In Several research analysts have commented on the company. Royal Bank of Canada downgraded Duckhorn Portfolio from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $11.00 to $11.10 in a research note on Friday, October 11th. Jefferies Financial Group lowered shares of Duckhorn Portfolio from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Friday, December 6th. Finally, Barclays increased their price objective on shares of Duckhorn Portfolio from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.01. Duckhorn Portfolio Stock Performance Duckhorn Portfolio stock opened at $11.09 on Friday. The business has a 50 day moving average of $11.03 and a 200-day moving average of $8.48. The company has a market capitalization of $1.63 billion, a P/E ratio of 26.40, a P/E/G ratio of 11.35 and a beta of 0.03. The Duckhorn Portfolio, Inc. has a 1 year low of $5.38 and a 1 year high of $11.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.73 and a quick ratio of 0.61. Duckhorn Portfolio ( NYSE:NAPA – Get Free Report ) last announced its quarterly earnings results on Monday, October 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $107.40 million during the quarter, compared to analysts’ expectations of $104.76 million. Duckhorn Portfolio had a net margin of 12.12% and a return on equity of 6.30%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts predict that The Duckhorn Portfolio, Inc. will post 0.6 earnings per share for the current year. About Duckhorn Portfolio ( Free Report ) The Duckhorn Portfolio, Inc produces and sells wines in North America. The company offers wines under a portfolio of brands, including Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Migration, Canvasback, Calera, Kosta Browne, Greenwing, and Postmark. It sells wines to distributors, and directly to retail accounts and consumers. Further Reading Five stocks we like better than Duckhorn Portfolio Find and Profitably Trade Stocks at 52-Week Lows Buffett Takes the Bait; Berkshire Buys More Oxy in December Stock Splits, Do They Really Impact Investors? Top 3 ETFs to Hedge Against Inflation in 2025 Natural Gas Prices Continue To Rally, These Stocks Should Benefit These 3 Chip Stock Kings Are Still Buys for 2025 Receive News & Ratings for Duckhorn Portfolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duckhorn Portfolio and related companies with MarketBeat.com's FREE daily email newsletter .Qatar tribune Tribune News Network Doha The GCC Sustainability Innovation Hub, an initiative of leading GCC telecommunications operators including Ooredoo, e&, Beyon, Du, STC, Zain, and Omantel, has announced the release of its first white paper in collaboration with GSMA. This foundational document titled ‘Green Shoots: A New Model for Renewables from the GCC’ outlines the collective strategy and challenges telecom operators face on their journey toward net-zero carbon emissions. It provides a comprehensive overview of the operational, technological, and regulatory challenges that telecom operators encounter in achieving decarbonisation. The white paper also delivers actionable strategies to drive sustainable energy adoption within the telecom industry, positioning the GCC as a leader in telecom sustainability and innovation. Fatima Sultan Al-Kuwari, Group Chief HR and Sustainability Officer, Ooredoo, said: “The release of this white paper marks a significant step forward for the GCC telecom sector and highlights the power of collaboration in tackling environmental challenges. “Through the GCC Sustainability Innovation Hub, we are uniting as an industry to pioneer sustainable solutions, share best practices, and create a greener future for our region. This is just the beginning, and we are committed to pushing forward with innovative projects that support our journey toward net zero and demonstrate the leadership role the GCC can play in global sustainability efforts.” The white paper highlights the urgent need to address high energy consumption in telecom operations, identifying that renewables currently account for just 20% of the sector’s energy. It also outlines the significant role telecom operators can play in enabling emissions reductions across industries such as oil & gas, agriculture, and transportation through IoT and 5G connectivity. By tackling energy costs - which represent up to 20% of operating expenses - and deploying energy-efficient technologies, the telecom industry stands to improve profitability while supporting broader regional decarbonisation goals. The GCC Sustainability Innovation Hub - established as a collaborative platform as part of the region’s post-COP28 commitment to sustainability - is the first initiative of its kind in the region’s telecom sector. The hub serves as a centralised platform for developing and testing sustainable solutions tailored for telecom operators, encouraging innovation and partnership across industries. By pooling resources and knowledge, the initiative aims to create an ecosystem that fosters collaboration and accelerates the adoption of renewable energy sources. The operators involved in the GCC Sustainability Innovation Hub plan to build on this momentum with further projects and partnerships. By advancing renewable energy adoption and exploring innovative technologies, the initiative seeks to set a benchmark for sustainability practices in the telecom industry and inspire solution providers worldwide to join this critical mission. The full white paper is now available for download on the GSMA website. Copy 23/12/2024 10LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. The reduction is largely a byproduct of the $3 billion that Intel is also receiving to provide computer chips to the military. President announced the agreement to provide with up to $8.5 billion in direct funding and $11 billion in loans in March. The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press. In August, the chipmaker announced that it would cut 15% of its workforce — about 15,000 jobs — in an attempt to turn its business around to compete with more successful rivals like Nvidia and AMD. Unlike some of its rivals, Intel manufactures chips in addition to designing them. Two years ago, President Biden hailed Intel as a job creator with its plans to open a new plant near Columbus, Ohio. The president praised the company for plans to “build a workforce of the future” for the $20 billion project, which he said would generate 7,000 construction jobs and 3,000 full-time jobs set to pay an average of $135,000 a year. The California-based tech giant's funding is tied to that President has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the , the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when stalled factory assembly lines and . The Biden administration helped shepherd the legislation following pandemic-era concerns that the loss of access to chips made in Asia could plunge the U.S. economy into recession. When pushing for the investment, lawmakers expressed concern about efforts by China to control Taiwan, which accounts for of advanced computer chip production. In August, the administration pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant could expand the facilities it is and better ensure that the most advanced microchips are produced domestically for the first time. The Commerce Department said the funding for meant the company could expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub. The administration has promised to support foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. Boak reported from Washington.

HALIFAX — The Transportation Safety Board of Canada is investigating an incident involving a plane at the Halifax Stanfield International Airport, which one passenger described as a rough landing that sparked flames. Nikki Valentine, a Halifax woman who was on the PAL Airlines flight, said passengers felt a “massive rumble” upon landing Saturday night. “The cabin tilted, we saw sparks and then flames and then smoke started getting sucked into the cabin,” she told The Canadian Press in a direct message over social media. Airport spokesperson Tiffany Chase said Saturday an Air Canada Express flight operated by PAL Airlines, arriving from St. John’s, N.L., experienced an incident upon landing at approximately 9:30 p.m. Air Canada spokesperson Peter Fitzpatrick said late Saturday that the plane experienced a “suspected landing gear issue” after arrival and was unable to reach the terminal. Fitzpatrick said the crew and 73 passengers were off-loaded by bus and nobody on board was injured. A Nova Scotia RCMP spokesperson said on Saturday that some minor injuries were reported, but clarified Sunday that in fact no one was injured. Valentine said she is “especially thankful the pilot was able to get ahold of the situation very fast.” The incident temporarily halted flight activity at the airport. As of Sunday afternoon, Valentine and other passengers were still without the bags they were instructed to leave on the plane. Valentine said she contacted Air Canada, who told her that it could be up to three more days before their bags are returned as the investigation into the incident continues. “A lot of people have things like house keys or wallets they needed and couldn’t get,” she said. “It’s all proper procedure, and I’d rather the inconvenience (of missing bags) than if anything bad had happened, of course, but it’s still tough.” This report by The Canadian Press was first published Dec. 29, 2024. Lyndsay Armstrong, The Canadian Press‘I love fighting for this club’: Guardiola on his drive to stay at Manchester City - The Guardian

A look at Delaware County high school football on this weekend in years past... 30 Years Ago Marty Brown gains 281 yards on 16 carries and has scoring runs of 39, 15, 48 and 58 yards and Pat Kane runs for a touchdown and catches a TD pass from Chris Fox as Springfield rolls past Radnor, 57-0, to finish 9-0 in the Central League ... Brian Morris runs for three touchdowns, John Tinney throws three scoring passes and Steve Carroll has three interceptions in Ridley’s 35-7 win over Strath Haven ... Jonathan Bystrek scores on an 86-yard kickoff return and a 16-yard run and Mike Mitros tosses TD passes to Chris Hemmert and Anthony Becht as Monsignor Bonner beats Bishop McDevitt, 34-14, in a Catholic League semifinal playoff game ... Defensive end Pete Sousa runs 40 yards with a fumble for Archbishop Carroll’s first score in a 12-9 Catholic League semifinal win over Father Judge. 40 Years Ago Rusty Richter gets two touchdowns, one a 55-yard punt return, and Brian Thompson scores on a 30-yard interception return as Ridley completes a 9-0 Central League season by beating Springfield, 25-0 ... Mike Griffin runs for three TDs and Bryan Carroll scores on a 15-yard run with a blocked punt in Strath Haven’s 34-7 win over Penncrest ... Defensive lineman Barney DelSordo recovers a fumble for the touchdown that gives Garnet Valley a 12-9 decision over Interboro ... Tom Colvin, Bill Horan and Mike Meiswich get TDs and Ed Monaghan and Pete Ruggieri lead the defense in Monsignor Bonner’s 19-3 Catholic League playoff win over West Catholic ... Mike Joyce has a scoring run, Don O’Brien kicks a 30-yard field goal and Burt Grossman has a sack for a safety as Archbishop Carroll defeats Cardinal O’Hara, 12-7, in a Catholic League playoff game. 50 Years Ago Joe Keefer runs for a touchdown after three Mike Bailey to Mike Saska completions account for 55 yards and Vince LaSorsa, Mike McBride and Al Conicella lead the defense as Archbishop Carroll defeats West Catholic, 7-0, to win the Catholic League Southern Division playoff title ... Brian Mackrides has a scoring run and throws a scoring pass in Springfield’s 35-0 win over Marple Newtown ... Larry Jackson runs 79 yards with a fumble to score and throws a TD pass to Jerry Benson to help Penncrest to its first victory, 26-20 over Interboro (Charlie Sheckler fumble recovery for a touchdown; Charlie Brehm 76-yard kickoff return TD) ... Dean Johnson tosses three scoring passes, two to Willie Sydnor, in Radnor’s 28-0 win over Lower Merion. 20 Years Ago John Dempsey gains 183 yards on six carries, including touchdown runs of 68, 58 and 47 yards, as Cardinal O’Hara defeats Archbishop Ryan, 34-6, in a Catholic League Red Division playoff game ... Greg Kobilka throws a TD pass to Mark Smith in the first half and adds a scoring run in the second half of Archbishop Carroll’s 13-12 Catholic League Blue Division playoff loss to West Catholic ... Steve Jones runs for a touchdown in the first minute of the fourth quarter to help Penn Wood snap a 10-game losing streak with an 8-3 win over Harriton. 10 Years Ago Nasir Adderley scores on punt returns of 54 and 47 yards to help Great Valley to a 21-0 District 1 Class 3A championship game victory over Springfield (12-1), which gets interceptions by Ricky Sterling and Alex Masino and a quarterback sack from Brian Layden ... Nazim Trammell-Wells, Sterling Williams and Zeph Ellis (80-yarder) run for touchdowns, but Delco Christian drops a 29-22 PIAA Class A playoff decision to St. Pius X (Tre Jordan two TD runs, two scoring passes).

City of Ottawa ends endorsement deal with water line insurer

Investor Warren Buffett renewed his Thanksgiving tradition of giving by announcing plans to hand more than $US1.1 billion ($1.7 billion) of Berkshire Hathaway stock to four of his family’s foundations, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $US147.4 billion ($226.8 billion) fortune in the 10 years after his death, but now he has also designated successors for them because it’s possible that Buffett’s children could die before giving it all away. He didn’t identify the successors, but said his kids all know them and agree they would be good choices. Warren Buffett with son Peter and daughter Susie. Credit: AP “Father time always wins. But he can be fickle – indeed unfair and even cruel – sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit,” the 94-year-old Buffett said in a letter to his fellow shareholders. “To date, I’ve been very lucky, but, before long, he will get around to me. There is, however, a downside to my good fortune in avoiding his notice. The expected life span of my children has materially diminished since the 2006 pledge. They are now 71, 69 and 66.” Buffett said he still has no interest in creating dynastic wealth in his family — a view shared by his first and current wives. He acknowledged giving Howard, Peter and Susie millions over the years, but he has long said he believes “hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing.” Buffett built Berkshire Hathaway into an investing powerhouse. Credit: Bloomberg The secret to building up such massive wealth over time has been the power of compounding interest and the steady growth of the Berkshire conglomerate Buffett leads through acquisitions and smart investments like buying billions of dollars of Apple shares as iPhone sales continued to drive growth in that company. Buffett never sold any of his Berkshire stock over the years and also resisted the trappings of wealth and never indulged in much — preferring instead to continue living in the same Omaha home he’d bought decades earlier and drive sensible luxury sedans about 20 blocks to work each day. “As a family, we have had everything we needed or simply liked, but we have not sought enjoyment from the fact that others craved what we had,” he said. If Buffett and his first wife had never given away any of their Berkshire shares, the family’s fortune would be worth nearly $US364 billion — easily making him the world’s richest man — but Buffett said he had no regrets about his giving over the years. The family’s giving began in earnest with the distribution of Susan Buffett’s $US3 billion estate after her death in 2004, but really took off when Warren Buffett announced plans in 2006 to make annual gifts to the foundations run by his kids along with the one he and his wife started, as well as the Bill & Melinda Gates Foundation. Warren Buffett’s giving to date has favoured the Gates Foundation with $US55 billion in stock because his friend Bill Gates already had his foundation set up and could handle huge gifts when Buffett started giving away his fortune. But Buffett has said his kids now have enough experience in philanthropy to handle the task and he plans to cut off his Gates Foundation donations after his death. Buffett always makes his main annual gifts to all five foundations every summer, but for several years now he has been giving additional Berkshire shares to his family’s foundations at Thanksgiving. Loading Buffett reiterated Monday his advice to every parent to allow their families to read their will while they are still alive — like he has done — to make sure they have a chance to explain their decisions about how to distribute their belongings and answer their children’s questions. Buffett said he and his longtime investing partner Charlie Munger, who died a year ago, “saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry.” Today, Buffett continues to lead Berkshire Hathaway as chairman and CEO and has no plans to retire although he has handed over most of the day-to-day managing duties for the conglomerates dozens of companies to others. That allows him to focus on his favourite activity of deciding where to invest Berkshire’s billions. One of Buffett’s deputies who oversees all the noninsurance companies now, Greg Abel, is set to take over as CEO after Buffett’s death. The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning . Save Log in , register or subscribe to save articles for later. Billionaires Warren Buffett Wall Street Philanthropy Most Viewed in Business Loading

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