Warren Buffett donates 12 million Berkshire Hathaway shares to children's foundations

While many applaud Buffett’s generosity, some point out that giving through family foundations can help avoid estate and capital gains taxes.

Even though he’s spoken out for higher taxes on the wealthy, Buffett once joked he doesn’t send the IRS any extra checks himself.

He’s also highlighted how investment income like his is often taxed less than regular salaries, like what his secretary earns.