FX168 Financial News Agency (North America) News. Investor Warren Buffett announced on Monday, November 25th that he will donate over $1.1 billion worth of Berkshire Hathaway stocks to four family foundations. This move continues his tradition of donations during Thanksgiving over the years. At the same time, he also disclosed detailed plans for how his remaining estate will be distributed after his death.

Buffett previously stated that his three children will be responsible for distributing his remaining $147.4 billion wealth over 10 years after his death. However, he recently revealed that he has designated successors for his children to address the possibility of them passing away before completing all donations. He did not disclose the identities of these successors, but mentioned that his children are familiar with them and trust their capabilities.

"Time will eventually defeat all of us, but it often changes unpredictably, sometimes even cruelly. Sometimes, its steps stop right at the beginning of life, while other times it provides a century of company," wrote the 94-year-old Buffett in a letter to shareholders, "My children are now 71, 69, and 66 years old, and since my commitment in 2006, their ages have been increasing."

Buffett has repeatedly emphasized that he has no intention of turning his family into a dynasty of wealth. Both his first and current wives share the same view. He admitted to supporting his children with millions of dollars, but always insisted: "Extremely wealthy parents should leave enough money for their children to do anything they want, but not so much that they do nothing."

The philosophy behind the wealth: Accumulation and moderation

Buffett's ability to accumulate such enormous wealth is due to the powerful force of compound interest and the steady growth of Berkshire Hathaway. Through a series of wise investments and acquisitions, he has led Berkshire to achieve outstanding performance. For example, when Apple continued to grow its sales with the iPhone, Buffett decisively invested billions of dollars in Apple stocks. He has never sold any Berkshire stocks and has refused to indulge in excessive consumption, continuing to live in a house he bought in Omaha decades ago, and driving to work in a modest car.

"What our family owns is not only everything we need, but everything we love, yet we have never pursued more because of someone's envy," he said.

"The wealth behind philosophy: Accumulation and moderation."

If Warren Buffett and his late first wife, Susan, had never donated their shares of Berkshire Hathaway, his family's wealth would now be as high as $364 billion, making him the world's richest person.

However, Buffett has stated that he has no regrets about his donations over the years. The family's philanthropic journey began in 2004 when Susan passed away and distributed her $3 billion estate, with the real turning point being Buffett's annual donation plan announced in 2006.

Focus on the future: Children take over as the Gates Foundation exits.

Buffett has donated $55 billion worth of stocks to the Bill and Melinda Gates Foundation so far, becoming a major supporter of the foundation.

But he has indicated that as his children accumulate rich philanthropic experience, he plans to stop donating to the Gates Foundation after his death. This means that his legacy will be mainly managed by the family foundation.

Buffett also advises all parents to openly discuss their will with their families before their passing: "Let your family read your will while you are alive and explain your decisions to them. This can prevent the family from falling apart due to misunderstandings and conflicts caused by the will." He stated that he and his late longtime partner Charlie Munger have witnessed many families drifting apart as a result.

The legend continues: Passing on the baton.

Although Buffett has delegated the daily management of dozens of companies under Berkshire Hathaway to a team, he still serves as chairman and CEO. He is currently focused on investment decisions and remains active. His successor, Greg Abel, will be responsible for taking over his position and managing this vast corporate empire.

Warren Buffett has shown the world through his actions how to handle massive wealth responsibly, and has also provided a clear philanthropic vision for future generations. His life is not just a legend in the capital markets, but also a profound revelation about wealth and responsibility.