The Blubber

Warren Buffett, the renowned investor and chairman of Berkshire Hathaway, has taken additional steps to ensure the distribution of his vast fortune after his death.

Buffett, now 94, plans to donate 99.5% of his remaining wealth—currently estimated at over $150 billion by Forbes—to a charitable trust managed by his three children: daughter Susie, 71, and sons Howard, 69, and Peter, 66.

In a letter to Berkshire shareholders on Monday, Buffett revealed that three alternate trustees have been designated in case his children are unable to serve. He described these potential successors as younger individuals well-acquainted with his children and mutually agreed upon by the family.

"I’ve never wanted to create a dynasty or establish plans that go beyond my children," Buffett wrote. "But these successors are ready if needed. My hope is that Susie, Howie, and Peter will be the ones to disburse all my assets."

Generous Giving Continues

Buffett also announced a $1.14 billion donation of Berkshire stock on Monday, amounting to 1,600 Class A shares, distributed among four family foundations. This brings his total charitable contributions to over $58 billion since 2006, the year he committed most of his fortune to philanthropy. Of this, more than $43 billion has gone to the Bill & Melinda Gates Foundation. In total, Buffett has donated 56.6% of his Berkshire shares to date.

Despite his philanthropy, Buffett still owns 14.4% of Berkshire’s stock and plans to continue gifting shares during his lifetime. After his passing, his children will have approximately a decade to allocate the remaining wealth, requiring unanimous decisions on its philanthropic uses.

Family Foundations in Action

Each of Buffett’s children leads a foundation with distinct philanthropic missions:

• Susie Buffett oversees the Susan Thompson Buffett Foundation, named after Buffett’s late first wife, which supports reproductive health initiatives, and the Sherwood Foundation, which aids Nebraska nonprofits and early childhood education.
• Howard Buffett heads the Howard G. Buffett Foundation, focusing on global hunger, anti-human trafficking efforts, and conflict resolution.
• Peter Buffett leads the NoVo Foundation, which supports marginalized girls and women and indigenous communities.

Berkshire Hathaway’s Legacy

Under Buffett’s leadership since 1965, Berkshire Hathaway has grown into a $1 trillion conglomerate with holdings in businesses such as BNSF Railway and Geico, as well as stakes in major companies like Apple and American Express.

In his letter, Buffett acknowledged his advancing age but indicated no plans to step down, signaling his ongoing commitment to Berkshire and its future.