Billionaire Warren Buffett is known for many things—running Berkshire Hathaway Berkshire Hathaway (BRK), dispensing investing wisdom, and giving away vast sums of money. This week, the philanthropy part takes center stage.

Buffett announced he's donating about $6 billion to four foundations tied to his family. Notably, the Gates Foundation is left out for the first time in years—a move that was predicted as Buffett distances himself from Microsoft co-founder Bill Gates. The donations consist of nine million Berkshire Hathaway shares worth roughly $4.5 billion to the Susan Thompson Buffett Foundation, and about $500 million each (one million shares) to the Sherwood Foundation, the Howard G. Buffett Foundation, and the Novo Foundation, according to the Associated Press.

But the bigger news is the timeline. Buffett originally planned to have his three children donate the rest of his fortune—$140 billion in Berkshire shares—within 10 years of his death. Now he's moving it up: he wants it all gone by the end of 2034.

"Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034," Buffett said in a statement. "The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate."

The $6 billion in annual donations is similar to last year's, but this time the Gates Foundation got nothing. Since 2006, the Gates Foundation has received more than $47 billion in Berkshire shares. Buffett is expected to discuss his plans further in a CNBC interview on Wednesday. He told CNBC's Becky Quick in March that he hadn't spoken to Gates for months, so the topic will likely come up again.

Meanwhile, someone else wants a piece of that $140 billion pie. Altimeter Capital founder Brad Gerstner, a co-creator of Trump Accounts, said he wants to pitch Buffett on donating to the program.

"Buffett is the greatest investor of all time—synonymous with the American Dream. He inspired me to start Invest America/Trump Accounts," Gerstner said in a social media post.

Gerstner argues that if Buffett wants to unload his Berkshire shares by 2034, there's no greater legacy than "sponsoring a Buffett dividend of Berkshire shares" for 70 million American kids, seeding "the next 250 years of American capitalism." He said he and Dell Technologies CEO Michael Dell will present the pitch to Buffett.

Buffett has been critical of Trump in the past, though he's tried to stay away from politics in recent years. Trump Accounts have some bipartisan support, but it's unclear if Buffett would back an initiative tied to Trump's name—especially one that involves Robinhood Markets (HOOD), which helped create the platform. Buffett has called Robinhood casino-like, so that could be a sticking point.

Whether or not Buffett bites, the next eight years will see the Oracle of Omaha's fortune flow out to foundations—and maybe, just maybe, to a new generation of American investors.