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Berkshire Hathaway Chairman Warren Buffett, 94, is making more changes to his philanthropic plans.

The iconic investor, who is No. 7 on Bloomberg’s billionaire list with around $150 billion as of press time, announced new donations and provided details about how he plans to continue to give away his fortune in a letter to Berkshire shareholders on Monday. Buffett is donating 99.5% of his wealth to a charitable trust that will be overseen by his children (his daughter and two sons) after his death.

Buffett continued his Thanksgiving tradition of giving away Berkshire stock with a new donation of $1.14 billion to his four family foundations (Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, the Susan A. Buffett Foundation, and the NoVo Foundation).

Related: Warren Buffett Just Changed Up His Will and Locked Out the Bill & Melinda Gates Foundation

“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,” Buffett wrote. “To date, I’ve been very lucky, but, before long, he will get around to me. 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.”

Buffett’s children will have about 10 years to give away his remaining wealth after his death. Disbursement requests must be unanimous.

“Wealthy friends have been curious about the extraordinary confidence I have in my children and their possible alternates,” Buffett notes. “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.”

Related: Why One Prominent Investor, ‘Britain’s Warren Buffett,’ Is Staying Away From Nvidia Stock

But due to everyone’s ages, Buffett announced that he named three potential successor trustees to oversee the foundations should his children pass away before giving away all the money.

“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,” Buffett wrote. “But these successors are on the waitlist. I hope Susie, Howie, and Peter themselves disburse all of my assets.”

The successors were not named.

In the letter, Buffett also talks about how the world has changed in his almost 100 years on the planet and offers a hopeful outlook for the future. Despite the changes, Buffett did not step down from any work-related responsibilities.

Berkshire is a $1 trillion conglomerate.

Read the full letter, here.

Despite most of Gen Z thinking that their jobs could be replaced with AI in the next decade, the vast majority are still using AI to help complete office tasks — and they’re open about it.

A new survey released on Monday from Google assessed the AI habits of 1,005 full-time U.S.-based knowledge workers aged 22 to 39. Google called the group “young leaders” because they’re currently in leadership positions or aspire to hold one at work.

The survey found that 93% of Gen Z respondents from 22 to 27 years old are using two or more AI tools like ChatGPT or Google Gemini AI per week. In comparison, 79% of millennials ages 28 to 39 indicate that they’re doing the same.

Related: Worried About AI Stealing Your Job? A New Report Calls These 10 Careers ‘AI-Proof’

These AI users are utilizing the technology to take meeting notes, write emails, and overcome language barriers.

They aren’t secretive about talking to ChatGPT either: More than half of them share AI-fueled insights and experiences with their coworkers. Three in four have even recommended AI tools they have had positive experiences with to their peers.

“Rising leaders are not only advocating for AI—they’re deploying this technology in meaningful ways, from improving communication with colleagues to freeing up time for strategic work,” said Google Workspace VP of Product Yulie Kwon Kim in a press release.

Related: Google’s CEO Says AI Is Now Responsible for 25% of ‘All New Code’ Created at the Company

AI’s writing abilities appeal to Gen Z and millennial workers who use it in the workplace. 70% of the survey respondents said that they have used AI to help draft an email response, while 88% said that AI can help them find the right tone when they write.

AI also brings out leadership potential and carries promise. About four in five respondents want to use AI to become better managers and better lead teams. Half say AI carries great potential to automate repetitive tasks so that they can focus on strategic work.

These emerging leaders “are not simply using AI as a tool for efficiency, but as a catalyst to help grow their careers,” Kim stated.

While AI can help grow careers, it also has the potential to replace jobs. Another survey released earlier this month by tech education firm General Assembly showed that 62% of Gen Z believed AI would replace their jobs within the next 10 years while a separate study from Duke University found that 61% of large U.S. firms plan to use AI to automate tasks previously carried out by humans within the next year.

Related: Google’s AI Is Now Appearing in Gmail and Docs

In today’s business environment, companies often rely on subscriptions as a key driver of revenue. Whether in the form of consumer-facing subscription boxes or SaaS platforms, many companies have recognized the value of setting up systems that deliver consistent, recurring revenue from their customers. In fact, the subscription economy is expected to reach $1.5 trillion in 2025.

Of course, just like any other business, subscription-driven companies must be able to effectively track their revenue to identify growth opportunities and challenges — and one of the best ways to do that is by looking at their annual recurring revenue (ARR).

Related: 5 Essentials for Building a Subscription Business Customers Won’t Quit

What is ARR, and why does it matter?

Annual recurring revenue is a key metric in the subscription economy that measures the recurring revenue that the business gets from its subscriptions during a single calendar year. ARR is based solely on subscription revenue and doesn’t account for one-time purchases or fees.

ARR is often calculated on a per-customer basis — dividing the total value of a subscription contract by the number of years in the subscription contract. Adding up the yearly subscription value of each customer provides the total ARR.

As the Corporate Finance Institute explains, ARR is a valuable metric for subscription-driven companies because it helps them quantify growth, evaluate the success of the subscription model and forecast future revenue. With ARR, organizations are able to gauge the overall health of their business and whether current subscription revenue (and subscription growth) is in line with the organization’s goals.

1. Introduce multiple pricing options

For organizations trying to increase their number of customers so they can subsequently grow their total ARR, introducing multiple pricing options can be a savvy strategic practice. This has become especially prevalent in streaming, where practically every streamer has introduced multiple subscription tiers, largely divided by ad-supported and ad-free content.

For example, after introducing its ad-supported tier a little over 18 months ago, Netflix’s ad-supported tier now allegedly accounts for over 45% of new signups — a clear indicator that offering a lower-priced plan made its offerings more appealing to budget-minded consumers.

Offering multiple tiers or pricing options certainly isn’t limited to streaming. Many SaaS businesses also successfully use this model, with pricing tiers based on factors like the number of users who have access to an account, the amount of available storage or bandwidth and other factors.

Quite often, many of the most desirable features are locked behind a higher-priced tier, which encourages subscribers to opt for the more expensive option. However, by giving your audience multiple price points to choose from, you can grow ARR by becoming more desirable to both budget-minded and feature-focused audiences. Price scaling can also make your core service tier more attractive, further fueling subscription and revenue growth.

Related: 5 Tips for Growing Your Subscription Business

2. Be strategic with price promotions

One common technique used by subscription-driven businesses is to offer a price promotion, typically getting users to sign up at a steeply discounted price for the first year before reverting to the standard price in future years. Though discounts are effective at driving signups, they can be even more powerful when backed by a strategic campaign.

Penned by co-founder, Iman Gadzhi, a case study from Flozy demonstrates how effective promotions can be driven by much more than an attractive price point. In the buildup to the company’s first Black Friday, their team created a significant amount of educational content to go alongside the Black Friday campaign.

As a result, when the Black Friday campaign launched with a significant discount on the company’s yearly plan, it was further supplemented by free educational content and live events with the founding team. This strategic approach that went beyond a simple price promotion resulted in a 1,000% increase in revenue — and helped demonstrate the subscription’s underlying value right from the start.

3. Ensure you have the necessary systems and support in place

As valuable as growth-oriented strategies are, retention cannot be ignored. If you have high levels of subscriber churn, then you don’t truly have annual recurring revenue. Instead, your subscription-based business will be operating more like a traditional business model, in which you must repeatedly pursue sales with new customers.

Because of this, businesses that have ARR as a key performance metric must invest heavily in customer satisfaction and retention efforts. In the Flozy case study cited earlier, after the company’s initial growth, implementing 24/7 support and daily customer service sessions that offered real-time assistance played a key role in helping satisfy existing customers while also spurring new monthly growth increases when the company reintroduced marketing.

Businesses must regularly evaluate pain points that are causing customers to cancel their subscriptions and focus on the processes and practices that affect these areas. Correcting deficiencies and finding ways to increase the value you offer to your existing subscribers is key to keeping them around in the long run. Such actions can also make potential price increases more palatable, as long as subscribers still feel like they are getting good value.

Related: How to Improve Your Subscription Business Churn Rate

For subscription-driven business models, few metrics are ultimately more important than ARR. By prioritizing this metric as part of your acquisition and retention process, you can identify initiatives and processes that will help you build a loyal customer base that drives dependable revenue for years to come.

For too long, business success has been defined solely by profits and growth. Increasingly, however, entrepreneurs are realizing that true success also includes leaving a legacy of positive impact on society. In real estate, an industry that directly influences communities, there is a unique opportunity to leverage business for social good. Through sustainable developments, support of local initiatives or health-focused designs, the real estate sector plays a crucial role in fostering community transformation.

Real estate isn’t just about buying and selling properties; it shapes neighborhoods, impacts the environment and influences people’s lives. By integrating social responsibility into business strategies, real estate professionals can build stronger, more connected communities, enhance their brand reputation and drive long-term growth. This approach moves beyond philanthropy, positioning real estate firms as leaders in sustainable and community-centered practices.

Related: Why Should Your Business Care About Social Responsibility?

Creating positive impact through real estate

The intersection of business and social responsibility opens numerous doors for real estate professionals to make a meaningful difference. One way to do so is by developing projects that address community needs, with a focus on affordable housing or environmentally sustainable buildings. However, the opportunity for impact extends further when developers consider health-focused design elements, support local economies and engage communities in the development process.

Health-focused building designs:

With an increasing emphasis on well-being, health-focused building designs have become essential. Developers are now incorporating features like advanced air filtration systems, abundant natural lighting and open-air communal spaces to promote healthier living environments. These elements not only benefit residents but also enhance property value by setting a higher standard at a time when health consciousness is a priority.

Biophilic design, which integrates natural elements into the built environment, has also gained popularity. This approach, which includes features like indoor greenery, water elements and nature-inspired aesthetics, is shown to reduce stress and improve productivity, mental health and overall well-being for occupants. These health-oriented features reflect a profound commitment to resident wellness and align with the growing demand for sustainable, health-conscious living spaces.

Supporting local economies through real estate:

Real estate development can drive economic growth in communities beyond creating jobs during construction. Supporting local economies involves working with local suppliers, sourcing materials regionally and prioritizing local contractors and vendors. These choices not only stimulate economic growth but also strengthen social trust and goodwill, fostering a sustainable model that benefits residents, local businesses and the environment.

When projects use locally sourced materials, they reduce environmental impact by minimizing transportation distances, thus reinforcing a commitment to sustainability. This strategy of investing in local economies helps establish reciprocal, long-term relationships within communities, supporting local industries while laying a foundation of trust and collaboration. These practices are especially powerful in real estate, where community connection can be as valuable as the development itself.

Community engagement in the development process:

Real estate development is about more than just constructing buildings; it’s about creating spaces that reflect and enrich the community. Genuine social responsibility in real estate includes a commitment to true community engagement from the earliest stages of planning. By involving community leaders, residents and local organizations, developers ensure that their projects align with local needs, values and the area’s unique character.

Community engagement can take many forms, from holding public forums and conducting surveys to establishing partnerships with local groups, chambers of commerce, local non-profits and volunteer organizations. These efforts provide valuable insights into what a community needs in the form of parks, accessible transportation or cultural spaces, and can result in a development that resonates deeply with residents.

When community-driven features are incorporated, projects are more likely to gain support, fostering pride and long-term value for all stakeholders. Moreover, community involvement can streamline project approvals and ensure smoother integration of the development into the local fabric.

Related: 5 Ways Entrepreneurs Can Enhance Local Communities

The business benefits of social responsibility

Integrating social responsibility into real estate brings numerous tangible benefits. A strong commitment to social causes can enhance a company’s reputation, build client loyalty and attract top talent. Research from Deloitte shows that 86% of millennials believe business success should encompass more than financial performance, highlighting the growing importance of values-driven companies.

In an industry where relationships are vital, being known for community-focused initiatives can be a differentiator. Clients increasingly seek out companies that align with their values, and having a track record of social impact can build trust and generate referrals. Businesses that prioritize social responsibility often find they attract employees passionate about making a difference, leading to higher engagement and satisfaction within the team.

Integrating social impact into your business

For entrepreneurs looking to incorporate social impact into their real estate business, it starts with identifying causes that align with their core values and mission. For instance, a company committed to sustainability might focus on eco-friendly building practices, while another might prioritize affordable housing or educational initiatives for underserved communities.

Collaboration with local organizations amplifies your impact and strengthens your connection to the community. Partnering with non-profits or supporting grassroots efforts is an effective way to make a positive difference while building your brand and demonstrating authentic commitment to the communities you serve. Volunteering time, offering resources or sponsoring local events are additional ways to make an impact, creating a positive reputation and fostering long-lasting ties.

Related: Sustainability for Entrepreneurs — Why It Matters (and How to Achieve It).

By incorporating thoughtful, health-conscious, economically supportive and community-engaged practices, real estate professionals can create lasting change in the neighborhoods they touch. Prioritizing social good in real estate is not just about philanthropy; it’s a strategic approach that fosters loyalty, enhances brand reputation and builds stronger, more connected communities. Real estate, at its core, is about people, and when businesses prioritize social impact, they contribute to a future where communities and companies thrive together.

Earlier this week, Elon Musk and Jeff Bezos got into a public disagreement on X, the platform Musk owns, about comments Bezos allegedly said about President-elect Donald Trump. Though Bezos denies making the remarks.

“Just learned tonight at Mar-a-Lago that Jeff Bezos was telling everyone that @realDonaldTrump would lose for sure, so they should sell all their Tesla and SpaceX stock,” Musk wrote on Thursday in a post viewed more than 44 million times (according to X) at the time of writing.

Related: Billionaires Jeff Bezos and Elon Musk Are Oldest Children. Firstborns Often Have 2 Leadership Traits That Help Them Succeed in Business.

Bezos replied to the post, stating “Nope. 100% not true” to which Musk responded, “Well, then, I stand corrected.”

Nope. 100% not true.

— Jeff Bezos (@JeffBezos) November 21, 2024

Musk and Bezos are two of the most powerful people in the world, with a combined net worth of over half a trillion dollars. Bezos is the second-richest person in the world with a net worth of $226 billion while Musk takes the top spot with a net worth of $331 billion.

But that hasn’t stopped the two tech titans from squabbling it out on social media.

^{Musk (left) and Bezos (right). Photo by BRENDAN SMIALOWSKI,MANDEL NGAN/AFP via Getty Images}

Musk leads space exploration company SpaceX and Bezos is the head of rival firm Blue Origin. Since 2004, the two companies have gotten into patent battles, spats over talent, and arguments over which one accomplished space feats first.

For example, Bezos shaded Musk’s ambition to colonize Mars in a private lecture in 2019, while Musk called him a copycat the same year for his plans for internet satellites.

Musk said in a 2021 interview with the Financial Times that Bezos “does take himself a bit too seriously” and “does not seem to be willing to spend mental energy getting into the details of engineering.”

Related: Elon Musk Makes Fun of Bezos on Twitter, Purposely Spells His Name Wrong

Musk also publicly criticized Bezos’ project “The Rings of Power,” a Lord of the Rings adaptation released in 2022, tweeting “Tolkien is turning in his grave.”

While the power dynamics between Musk and Bezos may shift after Trump’s win, this most recent exchange proves that the dynamics between the two richest people in the world remain contentious.

Trump recently appointed Musk a co-lead of the new Department of Government Efficiency to help downsize the U.S. government.

You probably already know this in your gut, but not backing up your phone is a recipe for chaos. It takes just one drop in the toilet to lose critical project files, client contact information, or messages you’ll never get back. Apple’s iCloud offers an easy way to back up your phone, but you’ll pay monthly. Try AnyTrans instead.

With a lifetime subscription, you only have to pay once to back up an iOS device. During this early Black Friday sale, use code FESTIVE30 to get AnyTrans® for $20.99 (reg. $79.99). That’s an unbeatable price.

iCloud vs. AnyTrans

AnyTrans is kind of like the old days of hooking your phone up to iTunes, except it helps you consolidate all of your files between devices in a similar way to iCloud. For example, you could add your iPod and iPad as devices and see all of your photos, videos, music, messages, books, voice memos, and more in one place.

From there, you might use AnyTrans to:

https://www.youtube.com/embed/yq3mYi1C2I0

Besides the price, what’s the biggest difference? While iCloud updates your phone’s backup in real time, AnyTrans won’t. So, if you back up your phone and then save a project file, it won’t be part of the backup.

If you drop your phone in the toilet or lose it on the train, rest assured that your data and business correspondence are backed up with AnyTrans. But you have to make the move now before it’s too late.

Get this cloud-free iOS backup tool for $20.99 with code FESTIVE30 during this early Black Friday sale (reg. $79.99). You won’t find a lower price anywhere else.

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What sets CEOs apart from the rest of us? Is it experience, education, or a knack for thinking outside the box? Whatever the answer, it often felt out of reach until now. This learning app brings the strategies and insights of top leaders and authors right to your fingertips in 15 minutes or less. Curious how it works?

Try it yourself with an unbeatable price during our early access Black Friday sale. Check out now to get a Headway Premium lifetime subscription for $59.99 (reg. $299.95) while codes last—less than 80 are available at this price.

Get a little smarter every day

Too busy to read? No problem. Headway’s goal is to make reading more accessible by breaking down nonfiction books into 15-minute summaries you can read or listen to on your lunch break, during your commute, or anywhere in between.

You’ll find hundreds of book summaries on almost any topic—business, self-care, leadership, negotiation, sports, environment, and even some fiction. Lifetime access at this price won’t last long, so head to checkout now.

If you aren’t sure what to read first, check out a curated collection like “Think Like a CEO.” Read one each day to start thinking like Warren Buffet:

• The 80/20 CEO: Take command of your business in 100 days
• Negotiation Hacks: expert tactics to get what you want
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• Leaders Eat Last: Why some teams pull together and others don’t

With lifetime access, you can look forward to new book summaries added on a regular basis. That’s probably why Headway was named the App Store’s “App of the Day’ and has over 100 positive reviews.

Buy your Headway lifetime subscription for $59.99 during this early Black Friday sale (reg. $299.95) with no coupon needed, though codes may sell out fast.

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Whether you’ve started your business already or you’re just getting started, there’s a lot on your plate. Starting and growing a business requires a great idea, fundraising, market research, and finding customers, hiring, just to name a few. But here’s one aspect of ownership that many entrepreneurs overlook: What it takes to build a structure to sell that business someday for maximum value.

If your business is one of your most significant assets, then it’s essential to have a plan to build and grow it into something buyers will find irresistible.

Selling a business is a major milestone, and the process starts long before you list it. Learn how to design operations, enhance profitability, and strategically position your business for a successful sale—whether that’s soon or years down the road.

Join us for a free webinar, Build a Business That Will Sell: From Valuations to a Successful Exit, presented by Oracle NetSuite and Entrepreneur. Join moderator and communication AI strategist Dr. Jill Schiefelbein in a conversation with seasoned business broker and serial entrepreneur Ben Shaw on what buyers look for and how to maximize your business’s value.

From streamlining operations to building recurring revenue streams, this session will dive deep into strategies that make your business stand out in the market. Whether you’re planning to sell or future-proof your business, this webinar is packed with actionable advice to help you succeed.

• Key roadblocks that prevent entrepreneurs from selling their businesses—and how to structure yours to avoid these pitfalls.
• Common red flags that make buyers hesitant and the proactive steps you can take to address them with confidence.
• Overlooked opportunities to boost your company’s value, including why the number 2.5 is a game-changer for your growth strategy.
• Hot buttons that make your business more attractive to buyers, and how you can work those into your business strategy.

Schiefelbein and Shaw will shed light on the conversations that many entrepreneurs don’t have about the valuation and selling process, leaving attendees with a solid set of next steps whether you’re looking to sell your business in the next year, in the next few years, or if you want to start building with the end in mind.

The Build a Business That Will Sell: From Valuations to a Successful Exit webinar will take place live on Tuesday January 21 at 12 p.m. ET | 9 a.m. PT.

Anyone with a linguaphile or world traveler on their shopping list might want to pay attention. Babbel’s all-language lifetime subscription is available for just $129.97 (normally $599) through December 9. This means your language-loving giftee can enjoy all languages forever. And you can skip the line right here and head straight to checkout to get it.

If you’d like in on this language action for yourself, it’s truly a wise investment in both personal and professional growth. With access to 14 languages, Babbel is ideal for business leaders, travelers, and anyone wanting to broaden their global communication skills.

Babbel’s approach to language learning isn’t just practical—it’s been built by more than 100 expert linguists who designed the curriculum to make learning easy, enjoyable, and effective. With 10,000+ hours of lessons, Babbel offers endless opportunities for growth, whether you’re learning Spanish, French, German, or Italian or diving into more niche languages like Turkish or Indonesian.

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Learning a language opens up new cultural perspectives and helps foster connections with people across the globe. Babbel’s lessons go beyond vocabulary and grammar, focusing on real-life conversational skills and cultural nuances.

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Head right to checkout to get Babbel’s all-language lifetime subscription for just $129.97 (reg. $599) through December 9—just in time for holiday gifting.

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As the year winds down, it’s time to think ahead. For busy professionals, parents returning to the workforce, freelancers sharpening their skills, or students supplementing their education, EDU Unlimited by StackSkills offers an incredible opportunity to invest in the future.

With lifetime access to more than 1,000 courses for just $19.97 (regularly $600), this Black Friday promotion is the perfect way to get a head start on your New Year’s goals—or gift someone the tools they need to achieve theirs.

StackSkills provides a user-friendly platform with an extensive library of beginner-to-advanced courses in IT, development, graphic design, business, marketing, and more. Its intuitive interface and progress-tracking features make it easy to learn on your own schedule, no matter how busy life gets.

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