Warren Buffett, the legendary investor and philanthropist behind Berkshire Hathaway, has announced a major change in how his $150 billion fortune will be distributed after his death. In his annual ‘farewell’ letter, the 95-year-old said he now plans to leave most of his remaining wealth to the charitable foundations managed by his three children — allowing each to distribute roughly $500 million annually.

As reported by The Cool Down (TCD), Buffett admitted that his earlier vision for a single, unified philanthropic plan “did not prove feasible.” Reflecting on his decades of experience, he wrote, “During my many years, I’ve also watched ill-conceived wealth transfers by political hacks, dynastic choices and, yes, inept or quirky philanthropists.”

Rather than impose a rigid structure,

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