Buffett ends Gates Foundation donations, shifts $6 billion to family charities

Warren Buffett, the influential investor and chairman of Berkshire Hathaway, has concluded his substantial donations to the Bill & Melinda Gates Foundation. In a significant shift of his philanthropic efforts, Buffett plans to transfer approximately $6 billion worth of Berkshire Hathaway stock to four charitable foundations closely linked to his family.

Buffett, 95, announced Tuesday that he will convert 8,000 Class A shares into 12 million Class B shares for distribution. The Susan Thompson Buffett Foundation, named after his late wife, is set to receive the largest portion, nine million shares. The Sherwood Foundation, the Howard G Buffett Foundation, and the NoVo Foundation, each overseen by Buffett's children, will each receive one million shares.

This latest allocation excludes the Gates Foundation, which has benefited from over $47 billion in Berkshire stock since Buffett pledged in 2006 to donate the majority of his wealth. The decision arrives as Bill Gates faces increased scrutiny over his past interactions with convicted sex offender Jeffrey Epstein. While Buffett did not explicitly mention Epstein or provide a reason for excluding the Gates Foundation, the timing of the announcement is notable.

Buffett has also set a deadline of December 31, 2034, to donate all his remaining Berkshire shares to the four family organizations. Gates himself addressed the Epstein association in June, telling U.S. Congress members that he did not fully grasp the extent of Epstein's crimes at the time of their association and denied witnessing any criminal conduct. The Gates Foundation has stated it never employed Epstein nor made payments to him.