Warren Buffett is withholding his annual multibillion-dollar donation to the Gates Foundation for the first time in two decades, awaiting the outcome of the charity's internal review into its past connections with financier Jeffrey Epstein. The delay marks an interruption in Buffett's customary summer gift of Berkshire Hathaway shares, which is expected to be postponed until later this year, potentially around Thanksgiving.
This is the first time Buffett's annual contribution to the Gates Foundation has been paused since he began donating Berkshire stock in 2006 as part of a long-term philanthropic commitment. The decision underscores a cooling relationship between Buffett and Bill Gates, which has reportedly faced strain due to renewed scrutiny of Gates's past ties to Epstein.
The Gates Foundation has engaged the law firm WilmerHale to conduct an independent review of its interactions with Epstein, with findings anticipated later this summer. Buffett and his associates have reportedly been in communication with Gates Foundation leadership, including CEO Mark Suzman, seeking information about the foundation's connections to Epstein and the progress of the review.
Buffett has donated approximately $48 billion to the Gates Foundation throughout his philanthropic endeavors, making it the largest recipient of his donations. The billionaire's current hesitation comes as Gates faces increased attention following the Justice Department's release of additional Epstein-related documents this year.
Gates has previously acknowledged multiple meetings with Epstein after the financier's 2008 conviction, explaining these encounters as an effort to attract funding for global health initiatives. He has described the relationship as "a huge mistake" and expressed deep regret for maintaining contact.
During a recent closed-door interview with the House Oversight Committee, Gates also addressed an extramarital affair and testified that Epstein had later sought reimbursement for expenses related to that affair, a request Gates stated he rejected. Epstein's ties to Gates were also cited as a contributing factor to the dissolution of Gates's marriage to Melinda French Gates.
The Gates Foundation has maintained that it never made financial payments to Epstein nor pursued a formal collaboration with him.
Gates indicated in his interview that his last conversation with Buffett occurred in January, prior to the latest document releases. Buffett had previously stated in a March interview that he had not spoken with Gates since the Epstein files became public and intended to wait until late June to decide on his annual charitable contribution.
The growing distance between the two philanthropists has been increasingly evident. Gates, a regular attendee at Berkshire Hathaway's annual meetings and a former director, did not attend the event this year for the first time in years. Reports suggest some advisors recommended against his attendance, and Gates's team was informed he would not be seated in the section typically reserved for Buffett and other prominent figures.
Despite the uncertainty surrounding the Gates Foundation donation, Buffett's annual gifts to his family's charities, including those overseen by his children and the Susan Thompson Buffett Foundation, are expected to continue without change.
The Gates Foundation remains a significant global philanthropic organization, having distributed approximately $110 billion to date for global health, vaccine development, tuberculosis treatment, and women's health initiatives. Last year, Gates announced plans to allocate over $200 billion for the foundation over the next two decades before its planned dissolution by the end of 2045. As part of this transition, the foundation has informed employees of potential staffing reductions of up to 500 positions and a cap on operating expenses over the coming years.