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Warren Buffett Gets Generous: Donates $866 Million in ​Berkshire Hathaway Stock to Family Charities

In a Move Towards Retirement, Warren Buffett Brightens the Future for Four Family Charities with $866 Million Donation

Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, made headlines again with his philanthropic gestures. On Tuesday, he announced that he has donated approximately $866 million worth of Berkshire Hathaway stock to four family charities, making a significant impact on causes close to his heart. As he approaches the twilight of his famed investing career, Buffett couldn’t help but express his satisfaction, telling shareholders, “I feel good.”

The largest chunk of Buffett’s donation, consisting of 1.5 million Class B shares, went to the ​Susan Thompson Buffett Foundation. Named in memory of Warren’s late first wife, this organization is dedicated to reproductive health initiatives. Warren’s commitment to supporting causes related to reproductive health is undoubtedly inspired by his personal experiences and beliefs.

Not stopping there, Buffett generously divided an additional 900,000 Class B shares among three charities run by his children: Howard G. Buffett Foundation, Sherwood Foundation, and NoVo Foundation. By including his children in the distribution, Buffett not only amplifies the impact of his donations but also instills a sense of responsibility and philanthropy in the next generation.

This act of generosity follows last year’s substantial donation, where Buffett gave $759 million worth of Berkshire stock to these same charities, just before the Thanksgiving Day holiday in the United States. Clearly, this has become an annual tradition for the billionaire investor, spreading joy and making a difference in the lives of those less fortunate.

In a rare letter addressed to shareholders, Warren Buffett reiterated his long-standing commitment to philanthropy. He reassured investors that over 99% of his wealth would ultimately be directed towards charitable endeavors, with his children serving as executors of his will. Buffett’s confidence in his children’s ability to handle his financial legacy speaks volumes about their character and his unwavering trust in their values.

While the news of Buffett’s generous donations captured attention, it also led to speculation about his retirement plans. Despite scaling back his responsibilities outside of Berkshire Hathaway over the years, and even facing a prostate cancer diagnosis in 2012, Buffett has never publicly signaled a desire to step down. As he states in his letter, Berkshire was “built to last” and will remain in capable hands, ensuring his legacy lives on.

In an industry often defined by greed and self-interest, Warren Buffett’s consistent commitment to philanthropy sets him apart. Through his actions, he emphasizes the importance of giving back and leaving a positive impact on society. As he edges closer to retirement, Buffett’s generosity shines as a beacon of hope, inspiring others to follow in his benevolent footsteps.

Dow ends lower as Fed minutes point to higher for longer rates

The Dow closed lower Tuesday, as the minutes from the Federal Reserve most recent meeting showed members backed higher for longer interest rates for some time.

By 16:00 ET (21:00 GMT), the Dow Jones Industrial Average fell 62 points, or 0.2%, S&P 500 fell 0.2% and the NASDAQ Composite fell 0.6%.

Fed minutes draw muted reaction

Fed members supported keeping rates at restrictive levels for some time, leaning into their careful approach on monetary policy until clear signs that inflation is clearly on a downward trend, the minutes from the Fed’s Oct. 31- Nov. 1 meeting showed.

While the minutes indicated that members are leaning more toward keeping rates steady rather than hiking, there weren’t any clues that sooner rather than later rate cuts are on the horizon.

Traders continue to expect a the Fed to deliver a first cut at the the Apr. 30-May 1 meeting, according to’s Fed Rate Monitor Tool.

Ford curbs plans for Michigan EV battery plant

Ford Motor Company (NYSE:F) fell more than 1% after the automaker detailed plans to reduce its investment in its battery plant in Michigan amid waning EV demand.

The company said it would cut production at the plant by 43% and decreased the number of jobs the plant was expected to create by 32% to 1,700.

Zoom Video Communications delivers beat and raise in Q3, but macro headwinds remain a worry

Zoom Video Communications (NASDAQ:ZM) closed flat after lifting its full-year guidance after reporting Q3 results that topped analyst estimates, though some on Wall Street flagged ongoing macroeconomic headwinds as a concern.

The better-than-expected 3Q revenue was driven by “steady Enterprise segment execution against low expectations,” Goldman Sachs said, adding that the stock reaction indices that “investors are contemplating a still weak growth backdrop.”

Nvidia’s earnings in focus

The earnings season has generally produced better than expected results, and this positive tone is likely to be boosted by earnings from artificial intelligence chip leader Nvidia (NASDAQ:NVDA), with expectation of another blockbuster revenue forecast.

Shares of Nvidia’s Asian suppliers largely rose on Tuesday as investors expressed confidence in the world’s most valuable chipmaker, looking for more cues on AI-led demand, especially in China.

Retailers slip on consumer worries

Lowe’s (NYSE:LOW), Kohl’s Corp (NYSE:KSS) and Best Buy (NYSE:BBY) all traded lower as the retailers warned about the likelihood of a slowdown in discretionary spending heading into the important holiday period.

Abercrombie & Fitch (NYSE:ANF) jumped 2% after the fashion retailer lifting its annual guidance, saying it has “confidence” heading into the all-important holiday shopping season.

Oil hands back some recent gains

Oil prices fell Tuesday, handing back some of the recent gains as traders become cautious ahead of the weekend’s OPEC+ meeting.

Weekly U.S. inventory reports from the American Petroleum Institute and the Energy Information Administration are due later on Tuesday and Wednesday, respectively.


Nvidia’s ​AI-Powered Success: Data Center Business Soars as Chip Demand Takes Off

In a stunning display of growth, Nvidia announced its third-quarter results, leaving investors in awe. With the increasing demand for AI-led chips, the company’s ​data center business boomed, driving up ​revenue and surpassing expectations.

The numbers speak for themselves. Nvidia reported an adjusted EPS of $4.02 on revenue of $18.12 billion, surpassing analysts’ predictions of $3.36 EPS on revenue of $16.18 billion. This blowout performance sent shockwaves through the market, fueling excitement about the company’s future prospects.

The real star of the show was Nvidia’s high-margin data center business, which experienced a staggering 279% increase in revenue, reaching a record-breaking $14.51 billion in Q3 compared to the previous year. This surge can be attributed to the growing demand for chips that power artificial applications, solidifying Nvidia’s position as a leader in the AI industry.

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