Warren Buffett has a long-held belief that his “incomprehensible” net worth would be better spent going toward philanthropic causes than into his kids’ investment portfolios.
“After much observation of super-wealthy families, here’s my recommendation: Leave the children enough so that they can do anything, but not enough that they can do nothing,” he said in a 2021 note to shareholders, adding that his own adult children “pursue philanthropic efforts that involve both money and time.”