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Warren Buffett Philanthropy Timeline Could be Shortsighted

Why Buffett’s Philanthropy Timeline Could be Short-Sighted

24 January 2025

When Warren Buffett announced that his $144 billion fortune would be given to a charitable trust managed by his three children, on the condition that it be distributed within ten years of his passing, it made global headlines. Buffett’s decision marked a significant shift in the trajectory of his philanthropy. 

Rather than continue to allocate money to the Gates Foundation, Buffett has now set in motion a plan for his family to manage one of the largest philanthropic undertakings in history. 

Yet, as ambitious as this decision is, one must ask: can anyone effectively carry out this undertaking in only a ten-year timeline? Buffett has often championed the idea of leaving his family enough to “do anything, but not enough to do nothing.” However, tasking them with the responsibility to manage and distribute his immense wealth in such a short timeframe may actually undermine the impact he hopes to achieve.

The Challenge of Time in Philanthropy

Effective philanthropy is rarely achieved in a hurry. History shows us that transformative change often requires years, if not decades, of sustained effort, matched with strategic investment and unwavering commitment. Allocating $144 billion responsibly, which is $10 billion more than the entire GDP of Morocco, is an intimidating feat. It demands not just capital but one’s expertise, partnerships, and, above all, time.

By imposing a deadline of ten years, Buffett risks placing undue pressure on those involved. Forced to make hasty decisions, they may potentially sacrifice quality for speed. A more thoughtful approach would involve longer-term investment in systemic solutions that require the vision and funding that Buffett’s wealth offers. It is an ethos reflected in what is known as moonshot philanthropy.

Moonshot philanthropy looks to channel existing resources into high-risk, high-reward innovations to solve global issues. It’s a method that requires patience, perseverance, and time to bear fruit. This approach has been instrumental in tackling some of the world’s most complex problems, from eradicating longstanding diseases to advancing renewable energy solutions.

If the Buffett children wish to honour their father’s legacy, they would do well to embrace a model of giving that prioritises transformative, long-term impact over immediate results. Moonshot philanthropy offers a blueprint for this.

The Case for Moonshot Philanthropy

Inspired by President John F. Kennedy’s famous 1962 address that envisioned landing a man on the moon, moonshot philanthropy is about tackling grand challenges with long-term resolve. Its three pillars—embracing risk, fostering collaboration, and practising perseverance—are essential for creating systemic change.

The first pillar, risk, involves stepping into uncharted territory and funding early-stage innovations that might fail but could also redefine the future. The second pillar, collaboration, acknowledges that no one individual or organisation can solve the world’s problems alone. Instead, working to partner with governments, nonprofits, and private enterprises to leverage collective expertise and scale one’s impact. The final pillar, perseverance, underscores the importance of sticking with a cause over decades, not years.

In my own journey, I’ve witnessed the power of sustained commitment. Our work on universal access to vision correction, for instance, began over two decades ago and has since led to major milestones, including the UN General Assembly’s unanimous adoption of a resolution committing all countries to eye care for all by 2030. 

None of this progress could have been possible within a decade from start to finish. Our plan has been in motion for over 20 years and continues to this day, with a number of research trials still underway, looking to demonstrate that low-cost interventions exist and can be simply applied by policymakers to populations. Our continued efforts serve as a reminder that transformative change is not measured in years but in accomplishments.

A More Realistic Path Forward

Buffett’s financial legacy is monumental, but its true potential lies in how it is stewarded. A ten-year timeline may not be realistic for distributing such an extraordinary sum effectively. Instead, a 20- or 30-year horizon would allow for a more measured approach, ensuring that the funds are directed towards initiatives with the potential for enduring impact.

Alternatively, the family could partner with organisations and individuals already engaged in longer-term philanthropic ventures, where they can leverage their levied experience and networks to amplify the impact of Buffett’s fortune.

Buffett himself has said that the true measure of success is not wealth but how it is used to make the world a better place. To honour his legacy, his children—and indeed all philanthropists—must think beyond short-term results and embrace the patience required for meaningful change.

Buffett’s bold vision for his fortune is a starting point, but to truly change the world, we must play the long game.