Buffett stops Gates Foundation donations after Epstein revelations

Warren Buffett, the 95-year-old chairman of Berkshire Hathaway, announced Tuesday he has ceased donations to the Gates Foundation. This decision follows recent revelations concerning Bill Gates's past interactions with the late sex offender Jeffrey Epstein.

Buffett is instead directing about $6 billion of Berkshire Hathaway stock, comprising 12 million Class B shares, to four family foundations. These foundations are overseen by his daughter, Susie, and his sons, Howard and Peter. The Gates Foundation, which has received over $47 billion in stock from Buffett since 2006, was not mentioned in his annual mid-year donation announcement.

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Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034.

Buffett stated that his remaining shares will be donated to the four family foundations by December 31, 2034. Bill Gates's reputation has faced scrutiny since the US Department of Justice released files about Epstein in February. These documents included photos of Gates with Epstein and emails showing communications between Epstein and foundation staff. Gates has expressed regret for his association with Epstein, stating he did not fully understand the extent of Epstein's crimes at the time.

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I did not fully understand ​the extent of ​his crimes when I associated with him.