Buffett Excludes Gates Foundation from Donations, Citing Children's Readiness and Epstein Ties

Billionaire investor Warren Buffett is altering his long-standing philanthropic strategy, announcing he will donate all his remaining Berkshire Hathaway shares by December 31, 2034. Notably, for the first time in 20 years, the Gates Foundation has been excluded from his latest round of donations, which total approximately $6 billion and are directed to four family-related foundations.

While Buffett acknowledged the "very bad taste" of Bill Gates's past association with the late sex offender Jeffrey Epstein, he emphasized that the primary driver for changing his donation recipients is his belief that his three children are prepared to assume philanthropic responsibilities. "Nobody gets it right every time when choosing people," Buffett remarked, drawing a parallel to his own past mistakes in hiring or choosing friends.

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Nobody gets it right every time when choosing people.

Bill Gates had previously stated to Congress that his meetings with Epstein were intended to help raise funds for charitable causes, and he characterized his relationship with Epstein as a "terrible error in judgment," claiming ignorance of Epstein's criminal activities. The Gates Foundation responded to the news by expressing deep gratitude for Buffett's decades of support, which amounted to over $47 billion in stock. The foundation affirmed its strong financial standing and commitment to continuing its work until at least 2045.

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Their donations, which sum up to more than $47 billion, have helped us expand and fulfill the foundation's mission to improve health and opportunities for people around the world.