Jakarta, CNBC Indonesia – American (US) tycoon Warren Buffett is one of the richest people in the world. One of Buffett’s sources of wealth is from investing in stocks, especially Apple.
In 2023, he is estimated to have wealth of US$ 113.6 billion or the equivalent of IDR 1,691.05 trillion. This puts Buffett in 5th place on the Forbes list of the richest people in the world.
Even though he has assets that can’t be used up by seven generations, Warren Buffett admits he doesn’t plan to give his wealth to his children. According to him, this wealth would be better spent on philanthropic purposes rather than adding to his sons and daughters’ investment portfolios.
 Photo: IstPeter Buffett, left, Warren Buffett and Susie Buffett |
In fact, Buffett’s will states that 99 percent of his wealth will be donated to philanthropic causes, either during his lifetime or after his death.
“After much observation of super-rich families, here’s my recommendation: Give it to the kids enough wealth that they feel they can do anything, but not so much that they don’t want to do anything,” said the 92-year-old man, in a note to shareholders, some time ago.
However, that doesn’t mean that Buffett’s children, now in their 60s, haven’t received anything from their father. Each child has a $2 billion charitable foundation funded by Buffett, according to reports The Washington Post in 2014.
Buffett announced that he had donated $4.1 billion worth of Berkshire Hathaway shares to five charitable foundations as part of his effort to donate 99% of his wealth by the end of his life, bringing his total donations to $41 billion.
The 93-year-old investor calls his philanthropy “the easiest act in the world”, because charity is painless and may result in a better life for others.
Buffett first announced plans to give away most of his fortune in 2006, when he was 75 years old and owned 474,998 shares of Berkshire Hathaway.
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