Warren Buffett admits his Giving Pledge philanthropy was not ‘feasible’-he’s instead left his three kids $500 million a year to give away
Fortune • • general
Key Points:
- Warren Buffett, with a net worth of around $150 billion at age 95, is accelerating his philanthropic giving by transferring most of his remaining wealth to his three children’s charitable foundations, distributing about $500 million annually.
- Recent gifts include $750 million to The Susan Thompson Buffett Foundation for Nebraska scholarships and $250 million each to his children’s foundations focused on local community improvement, food security, and marginalized groups.
- Buffett believes his children are now best equipped to manage his fortune and plans to retain a significant portion of his Berkshire Hathaway shares until his successor, Greg Abel, is fully established.
- The future of The Giving Pledge, which Buffett co-founded and pledged to donate over 99% of his wealth, is uncertain
