This Is Why Warren Buffett Will Not Leave His Entire Fortune to His Children

The investor announced since 2006 that he will give away all his wealth when the time comes
By Entrepreneur
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July 2, 2021 Updated: July 14, 2021
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By Entrepreneur Staff

It is well known that the fortune of Warren Buffett, one of the most recognized American investors, is valued at 100 billion dollars thanks to his company Berkshire Hathaway and his shares. However, this amount will not be passed on to his children when he passes away.

His goal of giving away all his money is slowly coming true. According to the Grow portal, in a meeting between shareholders on the occasion of the annual donation of 4.1 billion dollars to five charities, the nonagenarian investor made comments in a letter published on the company’s blog (pdf) about “super millionaire families.” Buffett said that dynastic wealth accumulation “remains an option” in the United States, but “the norm is lower than in most countries, and its appeal is likely to diminish.”

“After much observation of super-rich families, here is my recommendation: leave the children enough so that they can do anything, but not enough that they can do nothing,” recommended the so-called “Oracle of Omaha.”

In the same way, he mentioned that he is “delighted” that his three children, over 60, accompany him in his decisions and “carry out philanthropic efforts that involve money and time.”

Entrepreneur
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Empowering People in the Business of Changing the World | Entrepreneur® is dedicated to fueling the world’s visionary leaders compelled to make a difference through their innovative ideas, businesses, and points of view.