Warren Buffett has announced that future charitable donations from his fortune will no longer be directed to the Gates Foundation, marking the end of a philanthropic partnership that lasted nearly two decades.
The 95-year-old Berkshire Hathaway chairman revealed he is donating approximately $6 billion worth of Berkshire Hathaway shares as part of his annual mid-year charitable contributions. The donation consists of 12 million Class B shares and will be distributed among four family foundations managed by his children — Susie, Howard and Peter Buffett.
The latest donation does not include the Gates Foundation, which has received more than $47 billion in Berkshire Hathaway stock since Buffett pledged in 2006 to support the organisation throughout his lifetime. Over the same period, his family foundations have received more than $17 billion in stock donations.
Buffett stated that all of his remaining Berkshire Hathaway shares will be donated to the four family foundations by December 31, 2034, regardless of when he dies.
The decision comes months after renewed public attention surrounding Bill Gates’ past association with the late financier and convicted sex offender Jeffrey Epstein. Gates has not been accused of any criminal wrongdoing.
Buffett and Gates were close friends for many years and frequently appeared together at Berkshire Hathaway’s annual shareholder meetings. However, Buffett disclosed earlier this year that the two had not spoken since the release of documents related to Epstein by the U.S. Department of Justice.
Despite the decision, the Gates Foundation expressed appreciation for Buffett’s decades of support, saying it remains financially secure through a separate $200 billion commitment from Bill Gates that will fund its global initiatives until its planned closure in 2045.
Legal experts noted that it remains unclear whether Buffett’s 2006 pledge to the foundation created any binding legal obligation, although previous statements suggested the foundation could rely on those donations when expanding its programmes.
According to reports, Buffett had been awaiting the outcome of an independent legal review into the Gates Foundation’s historical connections with Epstein before deciding whether to continue his support.
Jeffrey Epstein died in a New York jail in 2019 while awaiting trial on sex trafficking charges. Authorities ruled his death a suicide.
Bill Gates has repeatedly acknowledged that meeting Epstein was a mistake, explaining that their discussions focused on philanthropy and ended years before Epstein’s death. Gates has consistently denied participating in or witnessing any criminal conduct involving Epstein.
Buffett, one of the world’s richest individuals, has donated well over half of his Berkshire Hathaway holdings to charitable causes over the years. His latest donations will support the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation, all of which focus on causes including education, healthcare, poverty reduction, humanitarian aid and support for vulnerable communities.
