Warren Buffett Gives Away $1.1 Billion, Plans To Distribute $147 Billion After His Death

Warren Buffett, the legendary investor and philanthropist, has donated more than $1.1 billion in Berkshire Hathaway stock to his family’s charitable foundations as part of his annual Thanksgiving tradition, reported Josh Funk for the Associated Press.

Buffett has already given away more than $54 billion in Berkshire Hathaway shares since he first pledged the bulk of his fortune to philanthropy nearly two decades ago. I Photo: Asa Mathat, Fortune Live Flickr

Buffett, 94, also revealed new details about plans for his $147.4 billion fortune after his death.

While his three children—now aged 71, 69, and 66—are set to distribute the wealth over a 10-year period, Buffett has designated successors to ensure the plan continues if his children predecease him.

Though he declined to name the successors, Buffett assured shareholders that his children unanimously approved the choices.

“Father Time always wins,” Buffett remarked in his letter to shareholders. “To date, I’ve been very lucky, but, before long, he will get around to me.”

He acknowledged the downside of his longevity, noting, “The expected life span of my children has materially diminished since the 2006 pledge.”

Buffett has already given away more than $54 billion in Berkshire Hathaway shares since he first pledged the bulk of his fortune to philanthropy nearly two decades ago.