Warren Buffett has altered his annual charitable giving, removing the Bill & Melinda Gates Foundation from his list of recipients. The change comes after public disclosures revealed ties between Microsoft co-founder Bill Gates and convicted sex offender Jeffrey Epstein.
Buffett announced Tuesday that he would donate approximately $6 billion to four foundations associated with his own family. He previously had been making regular, substantial donations of Berkshire Hathaway stock to the Gates Foundation since announcing his plan to give away his fortune in 2006. The majority of his charitable gifts, exceeding $61 billion, had gone to the Gates Foundation.
In addition to redirecting this year's donations, Buffett also stated his intention to have his remaining Berkshire Hathaway stock, valued at nearly $146 billion, donated to charity by the end of 2034. This accelerates a previous plan that involved his children distributing his fortune within ten years of his death.
"The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate," Buffett said in his statement.
Gates has maintained that he had no knowledge of Epstein's criminal activities and has not been accused of any wrongdoing. He stated that his meetings with Epstein were motivated by a desire to raise funds for charitable causes. Epstein, who died in a Manhattan federal lockup in August 2019, was accused of sexually abusing numerous underage girls, and his death was ruled a suicide.
Buffett and Gates were once close associates, with Gates serving on the board of Buffett's conglomerate and Buffett on the board of the Gates Foundation. However, Buffett indicated in March that he had not spoken with Gates for months, predating the release of Epstein-related files in the fall of 2025. Buffett has expressed astonishment at Epstein's ability to exploit others, stating he does not wish to be involved in anything that could face future investigation.
Buffett stepped down as CEO of Berkshire Hathaway in January after 60 years, though he remains chairman and the largest shareholder. Greg Abel now leads the company as CEO.