Warren Buffett stops annual donations to Gates Foundation amid Epstein revelations
Billionaire investor Warren Buffett has excluded the Bill & Melinda Gates Foundation from his annual charitable donations for the first time in nearly two decades
Billionaire investor Warren Buffett has excluded the Bill & Melinda Gates Foundation from his annual charitable donations for the first time in nearly two decades, announcing about $6 billion in gifts to four foundations linked to his family instead. This came reportedly after disclosures surrounding Microsoft co-founder Bill Gates' past association with convicted sex offender Jeffrey Epstein. Since pledging in 2006 to give away most of his fortune, Buffett has donated more than $61 billion to the Gates Foundation, making it the largest recipient of his charitable giving. Instead, Buffett said he would donate around $4.5 billion in Berkshire Hathaway shares to the Susan Thompson Buffett Foundation and roughly $500 million each to the Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation, which are run by his three children, according to Associated Press.
Buffett revises long-term charitable plans Buffett also revised his long-term charitable plans, saying all of his remaining Berkshire Hathaway stock, currently worth more than $140 billion, will be donated by December 31, 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," Associated Press quoted Buffett's statement. Earlier, Buffett had planned for his three children to distribute his remaining fortune within 10 years of his death. The latest announcement accelerates a decision Buffett disclosed in 2024, when he said the Gates Foundation would no longer receive donations after his death and that his children would oversee the distribution of his remaining wealth, the Associated Press reported further.
Rift follows Epstein disclosures Buffett's decision comes months after renewed scrutiny over Bill Gates' past meetings with Jeffrey Epstein following the release of documents connected to the late financier. Although Gates has denied any knowledge of Epstein's crimes and has not been accused of any wrongdoing, it revived questions about their relationship. Gates has said he met Epstein only because he believed the financier could help raise money for philanthropic causes. Buffett and Gates were once among the world's closest billionaire friends. Gates sat on Berkshire Hathaway's board for years, while Buffett served as a trustee of the Gates Foundation. However, Buffett told CNBC earlier this year that he had not spoken to Gates for months, dating back to before the release of the Epstein files.
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