### Warren Buffett Prepares for the Inevitable with New Philanthropic Plans

Warren Buffett, the American financial titan known for his remarkable stock market acumen, has disclosed that the vast majority of his wealth will eventually be distributed through the charitable efforts of his three children. At 94 years old, Buffett revealed in a comprehensive letter to investors that even his offspring have aged significantly, motivating him to devise a backup plan should they not outlive him to see the full $147.4 billion fortune donated.

"Father time always wins," Buffett wrote in the letter, as quoted by the Associated Press. He acknowledged the unpredictable and sometimes harsh nature of life, stating that while he has been fortunate thus far, his time will eventually come. He reflected on the downside of his longevity, noting that his children's expected lifespan has also diminished since he began his philanthropic pledge in 2006.

In his letter, Buffett reiterated his belief that extremely wealthy parents should allow their children the freedom to pursue anything but not provide so much that they lack motivation to achieve anything. This philosophy has guided his philanthropic strategy over the years, culminating in charitable donations that last year exceeded $50 billion—an amount roughly double his total net worth back in 2006.

Despite his advanced age, Buffett has maintained control of Berkshire Hathaway and has not yet hinted at retiring. The successor for the multinational conglomerate has already been identified as Greg Abel, one of Buffett's trusted deputies. While his children will not be taking over the company, they have been entrusted to manage Buffett's philanthropic initiatives.

Buffett recently mandated that his children will have a decade following his death to distribute his fortune. But given their advancing years, he has considered the necessity of a contingency plan to ensure his wealth is given away as intended, even if his children are unable to see the mission through to completion.