Buffett is one of the world's most generous philanthropists.
He pledged in 2006 to donate about 85% of his Berkshire Class A shares to five foundations: the Bill & Melinda Gates Foundation, the Susan Thompson Buffett Foundation (named after his late wife), and three foundations run by his three children.
While Buffett's children will not be receiving a massive fortune for their personal use after his death, they're by no means cut out of the estate. In 2012, Warren pledged to his children Berkshire Hathaway stock valued at about $2.5 billion to be paid out to each of his children's foundations.
Buffett, 94, plans to donate 99.5% of his remaining wealth, valued on Friday at $149.7 billion according to Forbes magazine, to a charitable trust overseen by his daughter and two sons when he dies.
His son, Peter Buffett, really took that to heart. At 19, Peter made a bold move by cashing in his $90,000 inheritance – Berkshire Hathaway stock – and using it to chase his dream of becoming a musician. While that stock would be worth hundreds of millions today, Peter has no regrets.
Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away.
Despite being the sixth-richest person globally, Warren Buffett continues to drive a 2014 Cadillac XTS he purchased with hail damage. Although he can afford any luxury vehicle, Buffett prefers the practicality of his 10-year-old car.
Warren Buffett and Bill Gates, who both rank high among the richest men in the world, have been friends for decades. It began in the 1990s and led to joint ventures and world-changing philanthropy.
At the time, Susan and Warren had been married for decades, but she decided to start a new chapter on her own in San Francisco. Despite living a separate life on the West Coast, Warren and Susan didn't divorce, and the pair remained close.
Gates announced in an interview that his three children would "only" inherit a “minuscule portion” of his fortune. A mere $10 million each, he specified. This decision wasn't a spur-of-the-moment whim but a conscious choice rooted in his belief in the importance of hard work and purpose.
The billionaire investor and Berkshire Hathaway CEO initially balked at the idea of owning a private jet, but ultimately embraced the luxury and convenience. Warren Buffett nicknamed his private jet 'The Indefensible' – then renamed it 'The Indispensable' after realizing its value.
Charlie Munger Gave His Family Fortune To The 'Chinese Warren Buffett' Who Turned It Into Over $400 Million: 'Unholy Good Returns'
His children, Howard, Peter, and Susan, won't inherit the sum of his fortune but will be in charge of donating 99.5% of it. Buffett also left a suggestion for parents that applies to those of "modest" wealth. "When your children are mature, have them read your will before you sign it," Buffett wrote.
Warren Buffett currently owns one home… and it doesn't come close to qualifying as a mansion. While other billionaires show off their wealth, Buffett uses his money wisely.
The Giving Pledge is a simple concept: an open invitation for billionaires, or those who would be if not for their giving, to publicly commit to give the majority of their wealth to philanthropy either during their lifetimes or in their wills.
Warren was married to Susan Thompson for over five decades and also had a long-term relationship with Astrid Menks. This partnership began with Susan's blessing and evolved into a uniquely harmonious arrangement.
Buffett, the wife of billionaire investor Warren Buffett, died Thursday of a stroke while visiting friends in Cody, Wyo., Buffett's company said. Susan T. Buffett, the wife of billionaire investor Warren Buffett, died Thursday of a stroke while visiting friends in Cody, Wyo., Buffett's company said.
By pouring huge sums into his family's foundations, Warren Buffett shows trust in his three children to give away his $151 billion fortune. Warren Buffett has given nearly $3 billion apiece to the foundations of his children, Howard, Susie, and Peter.
In a May 2021 interview, Warren Buffett confirmed Abel as his future successor as CEO of Berkshire Hathaway. Abel's handling of CalEnergy's take-over of a British utility in the 1990s is credited to mark the start of this transition.
Both Warren Buffett and Charlie Munger were born and brought up in Omaha, Nebraska, and formed a friendship as adults in 1959 that was to last for decades. Charlie Munger, the longtime friend and business partner of investor Warren Buffett, died on Tuesday, November 28. He was 99.
Buffett is now worth only a few billion dollars less than Ellison — Oracle's chairman and a major Tesla investor — at $126 billion, and Gates — Microsoft's cofounder and one of Buffett's close friends — at $129 billion.
Bezos also owns a car collection reportedly worth around $20 million. His collection includes several high-end vehicles such as a Cadillac Escalade, Land Rover Range Rover, Mercedes-Benz S450, Ferrari Pininfarina Sergio, W Motors' Lykan HyperSport, Bugatti Veyron Mansory and Koenigsegg CCXR Trevita.
Billionaire investor Warren Buffett has sung the praises of Apple, but he's never been a fan of smartphones, preferring instead to use a $320 Samsung SCH-U20 that was given to him as a joke by Alexander Graham-Bell. Now, however, it has finally been upgraded to an iPhone 11.
DETROIT, MI - Berkshire Hathaway, the holding company of billionaire investor Warren Buffett, announced Tuesday it has purchased the Van Tuyl Group, the largest privately held car dealership group in the United States. The resulting company and dealer network has been renamed Berkshire Hathaway Automotive.