Billionaire investor Warren Buffett announced Tuesday he is ending his annual donations to the Gates Foundation, redirecting his multibillion-dollar contributions to four family-managed charities following new revelations regarding Bill Gates’ past ties to the late convicted sex offender Jeffrey Epstein.
The decision abruptly halts a historic two-decade philanthropic partnership. Buffett, 95, stated he will immediately allocate roughly $6 billion in Berkshire Hathaway stock to foundations overseen by his children. The mid-year donation announcement notably omitted the Gates Foundation, which has received over $47 billion from Buffett since 2006.
The strategic pivot follows the U.S. Department of Justice’s February release of files detailing communications and meetings between Gates and Epstein. While Gates has not been accused of any crimes and maintains he only engaged with Epstein to secure philanthropic funding, the disclosures prompted widespread scrutiny. Last month, Gates testified before a congressional committee, characterizing his association with Epstein as a grave error in judgment.
Buffett, who resigned as a Gates Foundation trustee in 2021, confirmed he intends to distribute his remaining wealth to his family’s trusts by 2034. The Gates Foundation released a brief statement expressing gratitude for Buffett’s historical support.
