Warren Buffett has given his three children a huge task. They will be in charge of giving away his $144 billion fortune to charity after he dies. Buffett’s son Howard says giving money away is not easy if you want to do it right.
He and his siblings Susan and Peter will oversee a charitable trust with the money. They have not decided which causes to focus on yet. But they will make those choices quickly when the time comes.
“What this is going to do is we’re going to bring all of our collective experience together,” Howard said. He thinks working with his brother and sister will make their giving more successful. Buffett has already donated billions to his children’s foundations over the years.
Each one supports different causes.
Buffett heirs tasked with charity
Susan’s focuses on reproductive health care.
Peter’s helps girls and women and fights gender-based violence. Howard’s works on reducing conflict and improving agriculture around the world. Buffett used to give a lot of money to the Bill & Melinda Gates Foundation too.
But now he is leaving his fortune to the trust his kids will run instead. He wants to make sure his money helps people in need. “There are eight billion people in the world, and my kids and I have been incredibly lucky,” Buffett said.
“There’s lots of ways to help people.”
The Buffett children know they have a big responsibility ahead. But they plan to follow their father’s example of thoughtful, impactful giving. Howard says his 94-year-old dad is still sharp as ever.
He is grateful for the opportunity to continue Buffett’s legacy of philanthropy.
