Warren Buffett just rewrote one of philanthropy's biggest relationships. The 95-year-old Berkshire Hathaway chief has halted giving to the Bill & Melinda Gates Foundation, ending nearly 20 years of major donations after fresh scrutiny of Bill Gates' past ties to Jeffrey Epstein. In his latest annual pledge, Buffett said he is distributing about $6 billion in Berkshire stock—12 million Class B shares—to four family-run foundations overseen by his three children, with all remaining shares to be given away by the end of 2034. The Gates Foundation, which has received more than $47 billion in Berkshire stock since 2006 and accepted a donation worth more than $4.5 billion last year, went unmentioned and did not comment, per Reuters.
The move follows the Justice Department's release of documents in February detailing Gates' contacts with Epstein, which Gates has called a mistake and said involved unsuccessful talks about philanthropy; he has not been accused of any crimes. The Wall Street Journal previously reported that Buffett was awaiting a review of the foundation's Epstein links before deciding on future support. Buffett, who stepped down as a Gates Foundation trustee in 2021, had once promised to support the organization for the remainder of his life, as long as Bill or Melinda remained involved. He says he hasn't spoken to Gates since the Epstein files surfaced. "Until it gets cleared up ... I just don't think it makes sense to do a lot of talking," the billionaire told CNBC in March.
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