Investor Warren Buffett has ceased providing annual donations to the charitable foundation established by Bill Gates. This shift in philanthropic strategy follows recent public scrutiny regarding the Microsoft co-founder’s previous interactions with the late convicted sex offender Jeffrey Epstein.
Although Buffett pledged in 2006 to donate Berkshire Hathaway shares to the Bill and Melinda Gates Foundation indefinitely, the organization was notably absent from the most recent list of beneficiaries. Instead, the stock will be distributed among four foundations managed by the Buffett family. The 95-year-old billionaire stated that he intends to allocate his remaining shares across these four entities by December 31, 2034.
Buffett did not explicitly reference Gates or Epstein in his latest announcement. However, he previously informed CNBC that he had avoided communication with Gates following the revelations regarding the Epstein files. He noted a desire to avoid being involved as a witness in legal matters.
Bill Gates recently testified before the US House Oversight Committee regarding his meetings with Epstein, which began in 2011. Gates acknowledged that he was aware of Epstein’s prior legal history at the time but claimed he did not fully grasp the severity of his actions. He expressed regret, stating that he should have avoided any association with Epstein entirely.
The change marks a significant departure for the two long-time associates who, alongside Melinda French Gates, founded the Giving Pledge in 2010. Melinda French Gates departed the foundation earlier in 2024 to pursue independent philanthropic work focused on women’s rights.
