BERKSHIRE HATHAWAY INC. NEWS RELEASE 20241125

 

FOR IMMEDIATE RELEASE November 25, 2024
即時發布 2024 年 11 月 25 日

Omaha, NE (BRK.A; BRK.B) –
內布拉斯加州奧馬哈（BRK.A; BRK.B）–

Today, Warren E. Buffett will convert 1,600 A shares into 2,400,000 B shares in order to give these B shares to four family foundations: 1,500,000 shares to The Susan Thompson Buffett Foundation and 300,000 shares to each of The Sherwood Foundation, The Howard G. Buffett Foundation and NoVo Foundation.
今日，華倫·巴菲特將把 1,600 股 A 股轉換為 2,400,000 股 B 股，並將這些 B 股捐贈給四個家族基金會：其中 1,500,000 股捐給蘇珊·湯普森·巴菲特基金會，其餘三個基金會（薛伍德基金會、霍華德·G·巴菲特基金會與諾和基金會）各獲贈 300,000 股。

Mr. Buffett’s comments to his fellow shareholders follow:
巴菲特先生對股東夥伴們的評論如下：

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The gifts I am making today reduce my holdings of Berkshire Hathaway Class A shares to 206,363, a 56.6% decrease since my 2006 pledge. In 2004, before Susie, my first wife, died, the two of us owned 508,998 Class A shares. For decades, we had both thought that she would outlive me and subsequently distribute the vast majority of our large fortune. That was not to be.
今日的捐贈使我持有的波克夏·海瑟威 A 股數量降至 206,363 股，相較 2006 年承諾時減少了 56.6%。2004 年，在我的首任妻子蘇西去世前，我們兩人共同持有 508,998 股 A 股。數十年來，我們始終認為她會比我長壽，並在之後將我們絕大部分巨額財富進行分配。然而事與願違。

When Susie died, her estate was roughly $3 billion, with about 96% of this sum going to our foundation. Additionally, she left $10 million to each of our three children, the first large gift we had given to any of them. These bequests reflected our belief that hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing.
當蘇西去世時，她的遺產約為 30 億美元，其中約 96%捐給了我們的基金會。此外，她給我們的三個孩子每人留下了 1,000 萬美元，這是我們首次給予任何子女的大額贈與。這些遺贈反映了我們的信念：極度富裕的父母應該留給子女足夠的財富，讓他們能夠做任何事，但又不至於多到讓他們無所事事。

Susie and I had long encouraged our children in small philanthropic activities and had been pleased with their enthusiasm, diligence and results. At her death, however, they were not ready to handle the staggering wealth that Berkshire shares had generated. Nevertheless, their philanthropic activities were dramatically increased by the 2006 lifetime pledge that I subsequently made and later expanded.
蘇西和我長期以來一直鼓勵孩子們參與小型的慈善活動，並對他們的熱情、勤奮和成果感到欣慰。然而，在她去世時，孩子們尚未準備好應對波克夏股份所產生的驚人財富。儘管如此，透過我在 2006 年做出的終身承諾及後續擴展，他們的慈善活動已大幅增加。

The children have now more than justified our hopes and, upon my death, will have full responsibility for gradually distributing all of my Berkshire holdings. These now account for 99½% of my wealth.
孩子們如今已遠遠超出我們的期望，並將在我去世後全權負責逐步分配我所有的波克夏持股。這些持股目前佔我財富的 99.5%。

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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. To date, I’ve been very lucky, but, before long, he will get around to me.
歲月總是無情的贏家。然而，他時而反覆無常——確實不公甚至殘酷——有時在生命誕生之初或不久後便終結一切，有時卻等待百年光陰才悄然造訪。至今為止，我始終深受幸運眷顧，但不久之後，他終將來到我的面前。

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.
然而，這份幸運背後存在著代價。自 2006 年承諾以來，我的子女們預期壽命已實質縮短。他們如今分別是 71 歲、69 歲與 66 歲。

I’ve never wished to create a dynasty or pursue any plan that extended beyond the children. I know the three well and trust them completely. Future generations are another matter. Who can foresee the priorities, intelligence and fidelity of successive generations to deal with the distribution of extraordinary wealth amid what may be a far different philanthropic landscape? Still, the massive wealth I’ve collected may take longer to deploy than my children live. And tomorrow’s decisions are likely to be better made by three live and well-directed brains than by a dead hand.
我從未渴望建立王朝，或制定任何超越子女世代的計畫。我深知這三位子女的為人，並對他們完全信任。但未來世代則是另一回事——誰能預見後代子孫在可能截然不同的慈善環境中，處理巨額財富分配時的價值取向、智慧與忠誠度？儘管如此，我所累積的龐大財富，其部署所需的時間或許會超越孩子們的壽命。而由三位頭腦清晰、方向明確的活躍思維來制定明日決策，終究勝過由逝者僵化的意志來主導。

As such, three potential successor trustees have been designated. Each is well known to my children and makes sense to all of us. They are also somewhat younger than my children.
因此，已指定三位潛在的繼任受託人。我的孩子們都對他們相當熟悉，且對我們所有人來說都是合適的人選。他們的年齡也略小於我的孩子們。

But these successors are on the wait list. I hope Susie, Howie and Peter themselves disburse all of my assets.
但這些繼任者目前處於候補名單上。我希望蘇西、霍伊和彼得能親自分配我所有的資產。

Each respects my wish that the disposition program for my holdings of Berkshire shares in no way betrays the exceptional trust Berkshire shareholders bestowed upon Charlie Munger and me. The 2006-2024 period gave me the chance to observe each of my children in action and they have learned much about large-scale philanthropy and human behavior. Each has overseen teams of 20-30 for many years and has observed the unique employment dynamics affecting philanthropic organizations.
每個人都尊重我的願望，即我持有的波克夏股份處置計劃絕不辜負波克夏股東賦予查理·蒙格和我的特殊信任。2006 至 2024 年間，我有機會觀察每個孩子在實際行動中的表現，他們已對大規模慈善事業和人類行為有了深刻理解。多年來，每個孩子都領導著 20 至 30 人的團隊，並觀察到影響慈善組織的獨特僱傭動態。

* * * * * * * * * * * *

Wealthy friends have been curious about the extraordinary confidence I have in my children and their possible alternates. They express particular surprise at my requirement that all foundation actions will require a unanimous vote. How can this be workable?
有錢的朋友們一直很好奇，我對自己的孩子及其可能的替代人選為何擁有如此非凡的信心。他們特別驚訝於我要求所有基金會行動都必須經過全體一致投票的規定。這怎麼可能行得通呢？

I’ve explained that my children will forever be besieged with earnest requests from very sincere friends and others. A second reality: When large philanthropic gifts are requested, a “no” frequently prompts would-be grantees to ponder a different approach – another friend, a different project, whatever. Those who can distribute huge sums are forever regarded as “targets of opportunity.” This unpleasant reality comes with the territory.
我已解釋過，我的孩子們將永遠會被真誠的朋友與其他人誠懇的請求所包圍。第二個現實是：當有人要求巨額慈善捐贈時，拒絕往往會讓潛在受贈者思考改用其他方式——找別的朋友、提出不同的計畫等等。那些能分配巨額資金的人，永遠會被視為「機會目標」。這種令人不快的現實是伴隨這個身份而來的。

Hence, the “unanimous decision” provision. That restriction enables an immediate and final reply to grant-seekers: “It’s not something that would ever receive my brother’s consent.” And that answer will improve the lives of my children.
因此有了「全體一致決定」的條款。這項限制能讓尋求資助者立即獲得最終回覆：「這不可能得到我兄弟的同意。」而這個答覆將改善我孩子們的生活。

My unanimity clause, of course, is not a panacea – it clearly isn’t workable if you have nine or ten children or stepchildren. And it doesn’t solve the daunting problem of intelligently distributing many billions annually.
當然，我的一致同意條款並非萬靈丹——如果你有九或十個子女或繼子女，這顯然不可行。而且它無法解決每年要明智分配數十億資金的艱鉅難題。

* * * * * * * * * * * *

I have one further suggestion for all parents, whether they are of modest or staggering wealth. When your children are mature, have them read your will before you sign it.
我對所有父母還有一個建議，無論你們的財富是普通還是驚人。當孩子們成熟時，請在簽署遺囑前讓他們閱讀內容。

Be sure each child understands both the logic for your decisions and the responsibilities they will encounter upon your death. If any have questions or suggestions, listen carefully and adopt those found sensible. You don’t want your children asking “Why?” in respect to testamentary decisions when you are no longer able to respond.
務必讓每個孩子都理解你決策背後的邏輯，以及在你離世後他們將承擔的責任。若孩子們有任何疑問或建議，請仔細聆聽並採納合理的部分。你絕不會希望子女在你無法回應時，對著遺囑內容追問「為什麼？」

Over the years, I have had questions or commentary from all three of my children and have often adopted their suggestions. There is nothing wrong with my having to defend my thoughts. My dad did the same with me.
這些年來，我的三個孩子都曾提出疑問或建議，我也經常採納他們的意見。為自己的思考辯護並無不妥——當年我父親也是這樣對待我的。

I change my will every couple of years – often only in very minor ways – and keep things simple. Over the years, Charlie and I saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry. Jealousies, along with actual or imagined slights during childhood, became magnified, particularly when sons were favored over daughters, either in monetary ways or by positions of importance.
我每隔兩三年就會修改遺囑——通常只是微調——並保持內容簡潔。多年來，查理和我目睹太多家庭在遺囑公布後分崩離析，繼承人往往感到困惑甚至憤怒。童年時期的嫉妒、真實或想像中的輕蔑會被放大，特別是當兒子在金錢或重要職位上比女兒受優待時。

Charlie and I also witnessed a few cases where a wealthy parent’s will that was fully discussed before death helped the family become closer. What could be more satisfying?
查理和我還見過一些案例，富裕父母在生前充分討論遺囑內容，反而讓家族關係更加緊密。還有什麼比這更令人欣慰的呢？

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As I write this, I continue my lucky streak that began in 1930 with my birth in the United States as a white male. My two sisters had, of course, been explicitly promised by the 19th Amendment’s enactment in 1920 that they would be treated equally with males. This, after all, had been the message of our thirteen colonies in 1776.
在我撰寫這篇文章時，我延續了自 1930 年以來的幸運際遇——那年我以白人男性之姿在美國誕生。我的兩個姊妹雖然早在 1920 年通過《憲法第十九條修正案》被明確承諾將獲得與男性平等的待遇，這畢竟是我們十三個殖民地在 1776 年就宣示的理念。

In 1930, however, I emerged in a country that hadn’t yet gotten around to fulfilling its earlier aspirations. Aided by Billie Jean King, Sandra Day O’Connor, Ruth Bader Ginsberg, and countless others, things began changing in the 1970s.
然而在 1930 年，我降生的這個國家尚未實現當年的理想。直到 1970 年代，在比莉·珍·金、桑德拉·戴·歐康納、露絲·貝德·金斯伯格等無數先驅的努力下，情況才開始轉變。

So favored by my male status, very early on I had confidence that I would become rich. But in no way did I, or anyone else, dream of the fortunes that have become attainable in America during the last few decades. It has been mind-blowing – beyond the imaginations of Ford, Carnegie, Morgan or even Rockefeller. Billions became the new millions.
憑藉著男性身份的優勢，我很早就確信自己將變得富有。但無論是我或任何人都無法預見，過去幾十年間在美國竟能累積如此驚人的財富。這簡直超乎想像——連福特、卡內基、摩根甚至洛克斐勒都難以企及。曾經的百萬級財富，如今已晉升為億萬等級。

Things didn’t look great when I arrived at the beginning of The Great Depression. But the real action from compounding takes place in the final twenty years of a lifetime. By not stepping on any banana peels, I now remain in circulation at 94 with huge sums in savings – call these units of deferred consumption – that can be passed along to others who were given a very short straw at birth.
當我於大蕭條初期踏入社會時，情況看起來並不樂觀。但複利效應真正發揮威力的時刻，往往發生在人生的最後二十年。由於始終謹慎避開所有潛在危機，如今九十四歲的我依然活躍於世，積累了龐大儲蓄——這些可稱為「延遲消費單位」的財富，將能傳承給那些出生時手握劣勢命運的人們。

I am also lucky that my philanthropic philosophy has been enthusiastically embraced – and widened – by both of my wives. Neither I, Susie Sr. nor Astrid, who succeeded her, believed in dynastic wealth.
我也十分幸運，我的慈善理念不僅獲得兩任妻子熱情接納，更被發揚光大。無論是我本人、首任妻子蘇西，或是繼任的艾斯特麗德，我們都不認同世襲財富的觀念。

Instead, we shared a view that equal opportunity should begin at birth and extreme “look-at- me” styles of living should be legal but not admirable. 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.
相反地，我們共同抱持這樣的信念：平等機會應從出生開始，而極度「引人注目」的生活方式雖應合法，卻不值得推崇。作為一個家庭，我們擁有所需或單純喜愛的一切，但從未因他人渴望我們所擁有的而感到沾沾自喜。

It also has been a particular pleasure to me that so many early Berkshire shareholders have independently arrived at a similar view. They have saved – lived well – taken good care of their families – and by extended compounding of their savings passed along large, sometimes huge, sums back into society. Their “claim checks” are being widely distributed to others less lucky.
特別令我欣慰的是，許多早期波克夏股東不約而同地形成了相似理念。他們儲蓄積累、安享生活、妥善照顧家庭，並透過持續複利累積，將龐大（有時是巨額）財富回饋社會。他們的「權利憑證」正廣泛分配給那些運氣不如他們的人。

* * * * * * * * * * * *

With this philosophy, I have lived the way I wanted to live since my late 20s, and I have now watched my children grow into good and productive citizens. They have different views in many cases from both me and their siblings but have common values that are unwavering.
秉持這樣的人生哲學，我從近三十歲起就過著理想中的生活，如今看著子女們成長為善良且有貢獻的公民。雖然他們在許多方面與我及手足觀點各異，但始終秉持著堅定不移的共同價值觀。


Susie Jr., Howie and Peter have each spent far more time directly helping others than I have. They enjoy being comfortable financially, but they are not preoccupied with wealth. Their mother, from whom they learned these values, would be very proud of them.
小蘇西、豪伊和彼得每個人直接幫助他人的時間都遠超過我。他們享受經濟寬裕的生活，但從不執著於財富累積。教導他們這些價值觀的母親若在世，定會以他們為榮。

As am I.  我也是。

About Berkshire  關於波克夏


Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
波克夏·海瑟威及其子公司從事多種商業活動，包括保險與再保險、公用事業與能源、貨運鐵路運輸、製造業、服務業及零售業。該公司普通股於紐約證券交易所上市，交易代碼為 BRK.A 與 BRK.B。

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