Warren Buffett left his 3 kids $500 million a year to give away: 'Ruling from the grave does not...'

Warren Buffett reportedly has a net worth of $150 billion.

Warren Buffett, one of the world’s most successful investors and philanthropists, is changing how his $150 billion fortune will be distributed. In a letter to shareholders released on Monday, the 95-year-old Berkshire Hathaway chief said he will hand over most of his remaining wealth to his three children’s charitable foundations, allowing them to give away about $500 million each year.

Buffett admitted that his earlier ambitions for a single grand philanthropic plan “did not prove feasible.” He wrote: “During my many years, I’ve also watched ill-conceived wealth transfers by political hacks, dynastic choices and, yes, inept or quirky philanthropists.”

Instead, he will empower his children—now aged 72, 70, and 67—whom he described as being “at their prime in respect to experience and wisdom.” “Ruling from the grave does not have a great record, and I have never had an urge to do so,” he added.

The Giving Pledge and future plans

Buffett, who co-founded The Giving Pledge with Bill and Melinda Gates in 2010, reaffirmed his commitment to philanthropy but signaled he will “go quiet” soon. He plans to retain a significant portion of his Berkshire Hathaway Class A shares until successor Greg Abel is fully settled as CEO.
To date, Buffett has donated over $60 billion, much of it to the Gates Foundation. “All three children now have the maturity, brains, energy, and instincts to disburse a large fortune,” he wrote.

New round of donations announced
Buffett detailed fresh donations, including $750 million in Berkshire Hathaway stock to The Susan Thompson Buffett Foundation, which funds scholarships for Nebraska students. He also pledged $250 million each to his children’s organisations.

The Sherwood Foundation, led by daughter Susie, focused on improving life in Nebraska. The Howard G Buffett Foundation, tackling food security, conflict mitigation and human trafficking. NoVo Foundation, run by son Peter, supporting historically marginalised communities.