Warren Buffett Halts Donations to Bill Gates Foundation
Billionaire investor Warren Buffett has ceased his annual donations to the Bill and Melinda Gates Foundation, weeks after Bill Gates disclosed his connections to the late sex offender Jeffrey Epstein.
In 2006, Buffett made an "irrevocable" commitment to donate shares of his company, Berkshire Hathaway, each year to the foundation, then known as the Bill and Melinda Gates Foundation, "throughout my lifetime." However, on Thursday, the Gates Foundation was notably absent from the list of organizations set to receive billions of dollars worth of Berkshire Hathaway stock.
Instead, the stock will be divided among four foundations associated with members of the Buffett family. The 95-year-old investor stated he plans to distribute his remaining shares over the next eight years.
"Of course, mortality is unpredictable," said Buffett.
"But my remaining shares will be donated to the four foundations one way or the other by 31 December, 2034."
Context of Gates' Epstein Connection
Bill Gates' relationship with Epstein was brought to light following the release of files by the US Department of Justice in January. Buffett did not explicitly mention Gates or Epstein in his statement about the donation changes.
In March, Buffett told CNBC that he had not communicated with Gates "since the whole thing was unveiled." He further explained:
"I don't want to be in a position where I know things... to be called as a witness."
The Gates Foundation has been contacted for comment regarding these developments.
Bill Gates' Testimony on Epstein Relationship
In June, Bill Gates testified before the US House Oversight Committee about his association with Epstein, who died in a New York prison in 2019 while awaiting trial on sex trafficking charges.
According to the transcript of his testimony, Gates stated that he met Epstein in 2011 with the intention of raising billions of dollars for global health initiatives, a primary focus of the foundation.
"I recall being aware that Epstein had faced prior legal issues, but I did not fully understand the extent of the crimes he committed," Gates said.
It is important to note that three years prior to their meeting, Epstein had pleaded guilty to soliciting a minor for prostitution and procuring a person under age 18 for prostitution.
Gates acknowledged to the committee:
"I should never have met with Epstein in the first place. Based on what I know now, I understand that even if he had delivered the donors he promised, it would not have justified associating with him."
Buffett's Support for the Gates Foundation and Giving Pledge
Buffett had been a strong supporter of the Bill and Melinda Gates Foundation, expressing in 2006 that he "greatly" admired its accomplishments and committing to annual donations.
In 2010, Bill and Melinda Gates, along with Buffett, launched the Giving Pledge, an initiative encouraging the world's wealthiest individuals to donate the majority of their wealth during their lifetimes or through their wills.
Recent Developments in the Gates Foundation
Bill and Melinda Gates divorced in 2021 after 27 years of marriage. In 2024, Melinda French Gates resigned from the foundation she co-founded and announced a $1 billion donation aimed at supporting women's rights in the United States.
- Bill Gates says Epstein wanted personal relationship, but he 'never reciprocated'
- Bill Gates 'took responsibility' over Epstein ties in staff meeting, foundation says
- 'Painful times in my marriage' - Melinda French Gates reacts to ex-husband in Epstein files
