Warren Buffett's Legacy: Preparing His Fortune for Charity

Warren Buffett, the chairman of Berkshire Hathaway, is planning to donate most of his $149.7 billion fortune to charity after his passing. The move will be overseen by a charitable trust managed by his three children, Susie, Howard, and Peter.

In preparation for the future, Buffett has named three successor trustees who will take over if his children are unable to perform their duties. These trustees have been chosen for their familiarity with the family and their prudent judgement.

As part of his ongoing charitable efforts, Buffett has also announced an additional donation of $1.14 billion in Berkshire stock to four family foundations. Since 2006, he has distributed 56.6% of his Berkshire stock, which once valued over $58 billion, to philanthropic causes including the Bill & Melinda Gates Foundation.

(With inputs from agencies.)