Billionaire investor and Berkshire Hathaway Inc (NYSE:BRK.A) chairman Warren Buffett has made additional plans to give away his fortune following his death.
Buffett, who is 94, plans to donate 99.5% of his remaining wealth to a charitable trust overseen by his three children upon his death.
Following his death, his children will have about 10 years to give away his remaining wealth, valued at about $147.4 billion according to Forbes.
In a letter to Berkshire shareholders on Monday, Buffett said three potential successor trustees have been named should his daughter Susie, 71, and sons Howard, 69, and Peter, 66, cannot take on this responsibility.
"I've never wished to create a dynasty or pursue any plan that extended beyond the children," Buffett wrote in the letter. "But these successors are on the wait list. I hope Susie, Howie and Peter themselves disburse all of my assets."
Buffett also said he is donating another $1.14 billion of Berkshire stock to four family foundations. He has now given away 56.6% of his Berkshire shares since 2006 and retains a 14.4% stake in the firm.