Warren Buffett admits his Giving Pledge philanthropy was not “feasible”

Warren Buffett—long known as one of the world’s most successful investors and committed philanthropists—is rethinking how his fortune will be spent.

Transcript

00:00Warren Buffett is stepping up his charitable giving after admitting his original plan wasn't

00:05feasible. In his final letter to Berkshire Hathaway shareholders before stepping down as CEO later

00:10this year, Buffett acknowledged that his original plan to donate most of his wealth before or at

00:15his death hasn't gone as planned. Instead, Buffett's three children will each be in charge

00:20of distributing about $500 million a year. He said his children are at their prime in respect

00:25to experience and wisdom and best equipped to guide his fortune while they're still active and

00:30engaged. But he does recognize that his own longevity means it's time to pick up the pace on

00:35lifetime giving since his current net worth sits around $150 billion, according to Bloomberg's

00:41Billionaires Index. To date, Buffett has donated more than $60 billion, mostly to the Gates Foundation,

00:48with new gifts announced to family foundations this week.