Warren Buffett’s philanthropy has now reached a staggering total of about $60 billion, following his recent announcement to donate an additional $6 billion to five charities, including the Bill & Melinda Gates Foundation.
In a press release issued on June 27, the 94-year-old investor noted that his total charitable contributions — all made in Berkshire Hathaway stock — now amount to “substantially more than my entire net worth in 2006.”
Back in 2006, Buffett’s fortune was estimated at roughly $46 billion, according to Forbes’ annual list of the 400 richest Americans. That figure made him the second-richest person in the United States at the time, behind Microsoft co-founder Bill Gates, whose net worth stood around $53 billion.
As of Wednesday morning, Forbes estimated Buffett’s net worth at $145.2 billion, placing him seventh among the world’s wealthiest individuals.
Continuing His Giving Pledge
With this latest round of donations, Buffett continues to honor his 2006 commitment to donate more than 99% of his wealth to charitable causes. He also co-founded The Giving Pledge in 2010 alongside Bill Gates and Melinda French Gates, encouraging other billionaires to commit to giving away the majority of their fortunes.
When Buffett first made his pledge in 2006, he vowed to donate about 4% of his remaining Berkshire Hathaway shares each year. Berkshire, now valued at over $1 trillion, remains the core of Buffett’s wealth. Despite years of giving, he still owns approximately 13.8% of the company’s stock, according to a Reuters report from June 27.
Buffett has credited his continued financial success not to any special investment maneuvers, but to patience and sound judgment. “Nothing extraordinary has occurred at Berkshire,” he wrote in his statement. “A very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth.”
How the Latest Donations Are Divided
Of the $6 billion in new donations, roughly $1.4 billion will go to four family-run foundations — including charities managed by each of his three children and one named after his late wife, Susan Thompson Buffett, who passed away in 2004.
The remaining $4.6 billion will benefit the Gates Foundation.
Buffett has pledged to continue making annual donations to these organizations during his lifetime. However, he confirmed in a 2024 interview with The Wall Street Journal that his contributions to the Gates Foundation will end upon his death.
Buffett’s Plans for His Estate
Most of Buffett’s fortune will eventually be distributed by his three children, but in 2024, he revised his will to include three independent trustees who will help manage the charitable trust after his passing. The goal, he explained, was to provide clarity and prevent confusion about how his wealth should be used in the future.
“I’ve never wished to create a dynasty or pursue any plan that extended beyond the children,” Buffett wrote in a letter from 2024. “I know the three [independent trustees] well and trust them completely. Future generations are another matter. Who can foresee the priorities, intelligence, and fidelity of successive generations to deal with the distribution of extraordinary wealth amid what may be a far different philanthropic landscape?”
He also encouraged parents to discuss their estate plans openly with their children before signing a will. “You don’t want your children asking ‘Why?’ in respect to testamentary decisions when you are no longer able to respond,” he advised.
