Warren Buffett, one of the world’s most successful investors, has a distinctive plan when it comes to distributing his vast fortune to his children.

Unlike many billionaire parents who leave their wealth to their offspring, Buffett believes in a different strategy.

In a candid interview with Fortune back in 1986, he expressed his reservations about leaving substantial amounts of money to his three children: Howard Graham Buffett, Peter Buffett, and Susan Alice Buffett.

Despite putting them through college, Buffett chose not to hand them large sums of money but instead continued the tradition of giving them modest gifts of a few thousand dollars each at Christmas, as reported by Fortune.

He emphasized that he wants his children to establish themselves independently in the world, knowing that he supports them in their endeavors.

Rather than showering his children with riches, Buffett took a contrary stance.

He believed that providing them with an excessive inheritance would be detrimental, labeling it as “harmful” and “antisocial” to grant them a “lifetime supply of food stamps” solely based on their lineage.

According to Fortune, Buffett intended to leave his children “enough money so that they would feel they could do anything, but not so much that they could do nothing.”

This philosophy is reflected in the modest thousand-dollar gifts he gives them during the holiday season.

Despite being worth an estimated $103 billion, as per Forbes, Warren Buffett leads a remarkably frugal lifestyle.

He continues to reside in the same five-bedroom house he purchased in the late 1950s, enjoys breakfast from McDonald’s, and made a modest purchase of a Cadillac XTS for around $45,000 in 2014, according to CNBC.

While some may question his frugality, Buffett justified his choices by stating that he only drives approximately 3,500 miles per year, making infrequent car purchases necessary.

In contrast to the extravagant spending habits of many celebrities, Buffett prioritizes giving back to society.

Alongside Bill Gates, he launched the Giving Pledge in 2010, advocating for the wealthy to donate a significant portion of their fortunes to charitable causes.

Buffett himself has already donated over $45 billion, with plans to distribute more.

His commitment to philanthropy aligns with his decision not to pass on his wealth to his children, a principle rooted in empowering them to create their own paths rather than relying on inherited riches.

In a 2006 interview with Fortune, Warren Buffett reiterated his belief that flooding his children with wealth would not be beneficial.

He emphasized the importance of not perpetuating dynastic megawealth, ensuring a level playing field for all individuals.

Instead of leaving his children empty-handed, Buffett established a $2 billion foundation for each of them, a significantly lesser sum compared to his total net worth, as reported by The Washington Post.

This stance is shared by other billionaires like Bill and Melinda Gates and Sting, who opt for modest inheritances for their children despite their immense wealth.

Buffett’s approach highlights his desire to instill values of self-sufficiency and hard work in his children.

By eschewing the traditional practice of passing on wealth, he aims to empower his offspring to forge their own paths and contribute positively to society.

His dedication to philanthropy and modest living extends to his parenting philosophy, reflecting his belief in a meritocratic society where individuals earn their success through their efforts and abilities.