Warren Buffett is one of history’s most accomplished investors. His Berkshire Hathaway firm controls dozens of companies — including Duracell, Dairy Queen and Geico — and his SEC filings and annual shareholder letters capture the attention of the stock investing universe.
Read Next: Warren Buffett: 10 Things Poor People Waste Money On
Find Out: 6 Subtly Genius Moves All Wealthy People Make With Their Money
Forbes estimates his net worth at $166.7 billion, making him the fifth wealthiest person on earth and one of just a handful of centi-billionaires worldwide.
However, his three kids will inherit only a small sliver of the kingdom that the Oracle of Omaha built.
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
If Buffett’s Children Want Wealth, They’ll Have To Earn It
The famously frugal Buffett does not flash his wealth, and he has a long record of publicly preaching his parenting style, which ensures that after he’s gone, his heirs won’t flash his wealth, either.
In 1986, Buffett told Fortune, “My kids are going to carve out their own place in this world, and they know I’m for them whatever they want to do.”
However, he refuses to give them ”a lifetime supply of food stamps just because they came out of the right womb.”
So, where is the sweet spot in terms of generational wealth?
Buffett said he plans to leave his children ”enough money so that they would feel they could do anything, but not so much that they could do nothing.”
For You: 15 Investments Warren Buffett Regrets
The Oracle is Giving Away His Fortune — Just Not to His Kids
Buffett has spent decades making money for himself, his partners, and investors, but the world — not his children — stands to benefit most from his life’s work.
In 2010, Buffett and Bill Gates created the Giving Pledge, a movement to convince the world’s wealthiest people to donate at least half their fortunes — but 50% isn’t nearly enough for Buffett’s liking. Forbes reports that the 94-year-old has already given away $62 billion to charitable causes and plans to donate 99% of his remaining fortune.
His kids, Howard, Susan and Peter, are not bothered by the lack of inheritance. In fact, in a 2006 interview with the New York Times, Howard shared his philosophy on money.
“It was always clear we were not going to get a lot of money. If my dad said, ‘either you can have $50 million a year personally or $50 million a year for the foundation,’ I’d put it in the foundation.”
Buffet’s Children Will Control, But Not Own, Billions in Wealth
The precise net worth of Warren Buffett’s children, who are all in their late 60s or early 70s, is unknown. They are not high-profile figures like their father and their income-generating endeavors don’t require thorough and publicly accessible financial reporting like Berkshire Hathaway.
What is known is that upon the elder Buffett’s death, his children will emerge as the world’s most powerful trio of philanthropists. Their mother left each of them $10 million upon her death in 2004. This was the seed money for their foundations. According to the Chronicle of Philanthropy, Buffett helped his children start those foundations and has donated $3 billion to them apiece.
Upon his death, his estate will steer his wealth into a charitable trust that his children will administer — and it will contain 99% of his wealth when that happens.
For context as to just how massive a war chest his children will wield, the Bill and Melinda Gates Foundation endowment is about $75.2 billion — less than half of what Buffett’s children would control if they assumed their father’s estate today.
What the Buffett Children’s Greater Inheritance Is
In a 2010 interview with NPR, Peter shared that his father denied him a loan when he hit a rough patch in his 20s. He explained that instead, his father gave him a gift that was worth more to him than all the money in the world.
“That support didn’t come in the form of a check. That support came in the form of love and nurturing and respect for us finding our way, falling down, figuring out how to get up ourselves.”
His sister, Susie, agrees with her brother and father, but did say that it can be strange to have a wealthy parent not offer financial help when other parents seem more generous. In a 1986 interview she told Fortune, “I basically agree with him. But it’s sort of strange when you know most parents want to buy things for their kids and all you need is a small sum of money–to fix up the kitchen, not to go to the beach for six months.”
More From GOBankingRates
This article originally appeared on GOBankingRates.com: What Is The Net Worth Of Warren Buffett’s Kids?