Warren Buffett Leaves $143.1 Billion to His Children for Charitable Donations After His Passing

Warren Buffett, the sixth richest man in the world, has instructed that his $143.1 billion fortune be distributed to charities of his children’s choosing after his death. His eldest son has noted that this task is “not so easy.”

The 94-year-old chairman and CEO of Berkshire Hathaway plans to donate his entire fortune to a charitable trust, which will be managed by his three children: Howard, 69; Susie, 71; and Peter, 66.

According to the Associated Press, they will have just 10 years to allocate all the funds to their selected charities. Buffett currently ranks behind Elon Musk, Jeff Bezos, Larry Ellison, Mark Zuckerberg, and Bernard Arnault in the list of the world’s wealthiest individuals.

‘It’s not so easy to give away money if you want to do it smart, if you want to be intelligent about it,’ said Howard, a farmer who is to take over as Berkshire Hathaway’s nonexecutive chairman upon his father’s death.

‘It’s pretty amazing that he’s given us this opportunity,’ he added.

Howard mentioned that he and his siblings intend to continue their father’s approach of taking risks while seeking ways to create a positive impact.

‘I can tell you, we’ll sit down in a room when the time comes, and we’ll get it figured out pretty quickly,’ he said.

‘What this is going to do is we’re going to bring all of our collective experience together.’

Howard also expressed his belief that wealthy individuals should give away their money during their lifetimes instead of leaving it in perpetual foundations.

‘Somebody is going to spend that money. Somebody is going to give that money away.

‘So I would rather do that with my brother and sister and do it together as a partnership, than see it done any other way.’

While the specific organizations to which the siblings may donate their fortune have not been disclosed, each of them operates their own foundations and has contributed over $15 billion of their father’s money since 2006.