Good morning.Everyone gives away their assets at the end, to causes good and bad. Warren Buffett, 94, just announced plans to distribute another $1.14 billion in Berkshire Hathaway shares to his family’s foundations. It’s the latest step in Buffett’s plan to give his wealth away, which he first announced to Fortune reporter Carol Loomis in 2006. Back then, he had a net worth of about $40 billion. Today, after giving away more than half of his fortune, he’s worth almost $150 billion.Buffett wrote that his children, who are 66, 69, and 71, “have now more than justified our hopes and, upon my death, will have full responsibility for gradually distributing all of my Berkshire holdings.”Contrast that with Rupert Murdoch, who’s locked in a battle with some of his six children—who range in age from 21 to 66—over who gets to control the fate of News Corp. and Fox Corp. after he dies. The 93-year-old media mogul wants his vision to live on after he’s gone, to the point where he’s fighting to cut three of his kids out of the family trust.With an estimated $84 trillion due to transfer from older generations to Millennials and Gen Z by 2045, expect more drama to come. Among other things, parents expect to leave less than their kids expect to receive. One thing, though, is guaranteed. As Buffett put it in his letter: “Father Time always wins.”More news below. Diane Bradydiane.brady@fortune.comFollow on LinkedInTOP NEWSCEO fires 90% of employees at onceThe CEO of an online musical instrument retailer fired 90% of his employees via Slack this month and is standing by his decision. Baldvin Oddsson, CEO of Musicians Club, told the employees to “Get the f–k out of my business right now” because they missed a morning meeting.DOGE reportedly gets biggerElon Musk and Vivek Ramaswamy have reportedly reached out to billionaire hedge fund manager Bill Ackman and former Uber CEO Travis Kalanick to join the Department of Government Efficiency under President-elect Donald Trump’s second term, per the Washington Post. Antonio Gracias and Steve Davis, who both held senior positions at different Musk companies, also appeared to have been reached out to.Analysts are optimistic about BessentMarket analysts are reportedly relieved that President-elect Donald Trump announced Scott Bessent, who has previously recontextualized Trump’s threat of tariffs as an incentive to negotiate rather than a certain economic policy, as his pick for Treasury secretary. The S&P 500 and the FTSE 100 in the U.K. saw small gains after the pick was announced.AROUND THE WATERCOOLERTether was an outlaw for years. Now the $132 billion stablecoin has a key ally in Trump’s cabinet by Leo SchwartzA Macy’s employee made accounting errors ‘intentionally,’ hiding up to $154 million in expenses. Now the company’s earnings report is delayed by Sydney LakeFormer YouTube CEO Susan Wojcicki shares a final message three months after her death from lung cancer by Emma Hinchliffe and Nina AjemianCEOs share the career-defining moments that launched them to the corner office by Natalie McCormick and Ruth UmohExclusive: Veterans of secretive investment firm Two Sigma raising $25 million crypto venture fund by Leo SchwartzThis edition of CEO Daily was curated by Joey Abrams.This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.
