Warren Buffett has given his three children an astonishing $143.1billion task that his eldest son says is ‘not so easy.’
THE TASK WARREN BUFFETT GIVES HIS CHILDREN
The 94-year-old chairman and CEO of Berkshire Hathaway has decided to donate his entire fortune to a charitable trust after his death, which his three children – Howard, 69, Susie, 71, and Peter, 66 – will be in charge of.
They will have just 10 years to allocate all of the money to charities of their choice, according to the Associated Press.
‘It’s not so easy to give away money if you want to do it smart, if you want to be intelligent about it,’ said Howard, a farmer who is to take over as Berkshire Hathaway’s nonexecutive chairman upon his father’s death.
‘It’s pretty amazing that he’s given us this opportunity,’ he added.
WHAT HOWARD THINKS
Howard went on to say he and his siblings would continue to follow their father’s lead and take risks, while trying to find ways to make a difference.
‘I can tell you, we’ll sit down in a room when the time comes, and we’ll get it figured out pretty quickly,’ he said.
‘What this is going to do is we’re going to bring all of our collective experience together.’
Howard also said he agrees with his father’s decision to allocate the hundreds of billions of dollars.
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In general, he said he believes that wealthy people should give their money away within their lifetimes, rather than holding them in perpetual foundations.
‘Somebody is going to spend that money. Somebody is going to give that money away.
‘So I would rather do that with my brother and sister and do it together as a partnership, than see it done any other way.’
