Warren Buffett’s three children, Howard, Susie, and Peter, are poised to give away a significant portion of their father’s fortune, potentially up to $130 billion. Howard, a philanthropist and photographer, has been actively involved in providing assistance to Ukraine through his foundation, which has distributed hundreds of millions of dollars in aid. Susie oversees the Sherwood Foundation, focusing on education and support for the needy in Nebraska, while Peter directs the NoVo Foundation, which previously prioritized women’s empowerment but has now shifted its focus to Indigenous communities and other projects.
The siblings have been quietly giving away their father’s money in a low-key manner, with each receiving nearly $7.9 billion in Berkshire Hathaway shares between 2001 and 2023. Their charitable foundations have already donated over $7.4 billion, placing them among the country’s most generous philanthropists. Warren Buffett recently announced that his children would oversee a charitable trust holding his $130 billion fortune upon his death, in a departure from his previous plan to allocate the majority to the Gates Foundation. The siblings have demonstrated their ability to handle such a monumental responsibility, leading to Warren’s decision to entrust them with his wealth.
While questions remain about the future direction of the charitable trust, the Buffett siblings have already made significant contributions to various causes. Howard’s foundation focuses on food and agricultural assistance in Ukraine and other countries, while Susie supports early childhood education and other initiatives in Nebraska. Peter, a musician and philanthropist, has shifted the focus of his foundation towards Indigenous communities and projects in the Hudson Valley. Despite their distinct areas of giving, the siblings share a commitment to making a positive impact through their philanthropy.
The Buffett children’s foundations have consistently exceeded the IRS’s required 5% payout rate for private foundations, with payout rates ranging from 28% to 94% in recent years. This high percentage of grantmaking sets them apart from other philanthropists, reflecting their father’s guidance to give generously on an annual basis. The siblings have also maintained a hands-on approach to their philanthropic work, with Howard personally involved in projects in Ukraine and Peter directing funding towards initiatives aligned with his interests and values.
As the future stewards of Warren Buffett’s massive fortune, the siblings face the responsibility of unanimously deciding how to disburse the assets in the charitable trust. Despite their individual paths and areas of focus, Howard, Susie, and Peter share a commitment to making a positive impact through their philanthropy. With their father’s guidance and support, they are poised to continue their legacy of giving back and making a difference in the world.
