“I’ve never wished to create a dynasty or pursue any plan that extended beyond the children,” Buffett wrote in a lengthy letter Monday.
Warren Buffett, who has amassed $150 billion in personal fortune, made a strong case against creating"dynastic" wealth as he named three independent trustees to oversee his philanthropy following his children and donated another $1.1 billion in
"I've never wished to create a dynasty or pursue any plan that extended beyond the children," Buffett wrote in a lengthy letter Monday."I know the three well and trust them completely. Future generations are another matter.
"Three potential successor trustees have been designated. Each is well known to my children and makes sense to all of us. They are also somewhat younger than my children," Buffett wrote."But these successors are on the wait list. I hope Susie, Howie and Peter themselves disburse all of my assets."Buffett has been making annual donations to four family foundations since 2006.
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