Berkshire Hathaway Chairman Warren Buffett, 94, has made plans to donate 99.5% of his $149.7 billion fortune to a charitable trust after his death, Reuters reports.
The trust will be managed by his children Susie, Howard, and Peter, who will have about 10 years to oversee the distribution of the funds to various foundations. Buffett, who has led Berkshire since 1965, emphasized he never intended to create a dynasty. Despite his advancing age, he signaled no immediate plans to step down, acknowledging that “Father Time always wins.”
Buffett has already donated more than $58 billion to charity since 2006, including $43 billion to the Bill & Melinda Gates Foundation. He plans to continue giving during his lifetime and recently pledged another $1.14 billion in Berkshire shares to four family foundations. His children lead foundations focusing on areas such as reproductive health, global hunger, education, and marginalized communities.
