--- title: "94-Year-Old Warren Buffett Announces Plans to Give Away $147 Billion When He Dies" description: "Warren Buffett has announced that much of his legendary accumulation of wealth will be given away under the auspices of his three children." date: "2024-11-29" modified: "2024-11-29" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/warren-buffett-give-away-147-billion-dies" categories: - "Future Society" tags: - "billionaires" - "the digest" - "warren buffett" --- # 94-Year-Old Warren Buffett Announces Plans to Give Away $147 Billion When He Dies ![Warren Buffett has announced that much of his legendary accumulation of wealth will be given away under the auspices of his three children.]() *\Image: Kevin Dietsch/Getty Images\* ## Give It All Away American stock market wizard Warren Buffett has announced that much of his legendary accumulation of wealth will be given away under the auspices of his three children. However, as the 94-year-old admitted in a lengthy letter to investors, even they've grown quite old themselves, inspiring him to come up with a contingency plan in case they were to pass away before his remaining $147.4 billion fortune could be fully handed out — though he stopped short of publicly naming such a successor. "Father time always wins," he wrote, as [quoted by the *Associated Press*](). "But he can be fickle — indeed unfair and even cruel — sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit." "To date, I’ve been very lucky, but, before long, he will get around to me," he added. "There is, however, a downside to my good fortune in avoiding his notice." ## Logan Roy IRL The nonagenarian admitted that the "expected life span of my children has materially diminished" since pledging to donate yearly to his children's charitable efforts, as well as the Bill & Melinda Gates Foundation, in 2006. Buffett also argued that "hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing." The billionaire has made considerable donations over the years. Last year, his [charitable giving exceeded $50 billion](), roughly twice his entire 2006 net worth. Despite his advanced age, Buffett has held onto the reins of his Berkshire Hathaway empire and has yet to announce plans to retire. His children, however, won't be taking over the multinational holdings company — one of his deputies, Greg Abel, has [already been identified]() as the next CEO following Buffett's death. Meanwhile, Buffett's children are tasked to oversee his philanthropic efforts. Last year, he announced that the three [would have ten years]() following his death to give away his fortune. But now that they're growing old, it's probably for the best to arrange a backup plan in case they quite literally can't give it away fast enough. **More on Warren Buffett:** *[Warren Buffett Compares AI to the Atom Bomb]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()