Warren Buffett Halts Gates Foundation Donations After Two Decades

Warren Buffett has halted donations to the Bill & Melinda Gates Foundation, ending a philanthropic relationship that began in 2006. The move comes after public disclosures about Bill Gates's association with Jeffrey Epstein, the financier who died in 2019 while facing sex trafficking charges.

In a statement, Buffett said he redirected nearly $6 billion in Berkshire Hathaway stock to four family-run foundations. He also said he intends to give away all of his remaining Berkshire shares by the end of 2034, a timeline he had previously set for distributing his fortune.

The decision marks a significant shift for the Gates Foundation, which has received more than $35 billion from Buffett over the years. The foundation, co-chaired by Bill and Melinda Gates, has focused on global health, poverty, and education. Melinda Gates left the foundation in 2021, and Bill Gates has continued as co-chair.

Buffett, 93, has not publicly criticized Gates or the foundation. His statement focused on his own giving plans, saying he feels 'good' about his decision and that his children and their foundations will carry on his philanthropic work.

The Gates Foundation said in a response that it is 'grateful' for Buffett's generosity and will continue its mission. The foundation's CEO, Mark Suzman, said the organization has 'sufficient resources' to continue its work without Buffett's future contributions.