Warren Buffett’s Son Reacts to Dad’s Plan for His Fortune That They’ll Have to Give Away Within 10 Years of His Death

Mar. 15, 2025

Warren Buffett in a Miami Dolphins jersey.Photo:Ron Elkman/Sports Imagery/Getty

Ron Elkman/Sports Imagery/Getty

Warren Buffett’s kids have quite the financial task ahead of them — and the billionaire’s middle child admits it will be a “not so easy” responsibility.

Howard Buffett recently reacted to the decision his 94-year-old dad — the chairman and CEO of Berkshire Hathaway — made this year to change his mind about donating his fortune to theGates Foundation, from whichWarren resigned as a board trusteein 2021.

Instead, the Nebraska businessman will donate his fortune, estimated to be$143.1 billionbased onForbesdata, to a charitable trust after his death, according to theAssociated Press. His three adult children — Howard, 69, Susie, 71, and Peter, 66 — will be in charge of the trust and have 10 years to allocate the money to charities of their choice.

From left: Howard, Susie, Warren and Peter Buffett in 2011.Daniel Acker/Bloomberg via Getty

Daniel Acker/Bloomberg via Getty

“It’s not so easy to give away money if you want to do it smart, if you want to be intelligent about it,” Howard told the AP.

“It’s pretty amazing that he’s giving us this opportunity,” he added.

Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories.

Until his death, Warren will continue to donate to the Gates Foundation annually, something he has done since 2006 to the tune of more than $40 billion, per the AP. He will also continue donating to his family’s charities, including the one named after his late first wife, who died in 2004 at age 72: the Susan Thompson Buffett Foundation.

From left: Peter, Warren and Susie Buffett in 2017.Jamie McCarthy/Getty

Jamie McCarthy/Getty

Susie, who is the board chair for that foundation, once toldPEOPLEthat money means something different to her father than for many people.

“He’s pretty boring — it’s just not what people expect,” Susie said in 2017, the year HBO’sBecoming Warren Buffettdocumentary came out.

Warren is currently the sixth-richest person in the world, behind onlyElon Musk,Jeff Bezos,Larry Ellison,Mark ZuckerbergandBernard Arnault, according toForbes’Real-Time Billionaires List.

source: people.com