Munger gives $25M of Berkshire stock to his kids

AP News
Posted: Oct 22, 2010 12:39 PM
Munger gives $25M of Berkshire stock to his kids

Berkshire Hathaway Inc.'s Vice Chairman Charlie Munger has given stock worth $25 million to his eight children.

Munger told The Associated Press Friday that the gifts made earlier this week were simply a sad consequence of his wife's death in February.

Each of Munger's children received 25 Class A shares of Berkshire stock on Monday when they were selling for $125,150 apiece.

After the distribution, Munger still held 12,537 Class A shares of the Omaha-based company, worth nearly $1.6 billion.

The 86-year-old Munger lives in Pasadena, Calif., and serves as Berkshire's vice chairman. Berkshire CEO Warren Buffett has said he consults Munger on every major move the company makes.



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