Buffett omits Gates Foundation from annual donations after Epstein ties disclosed

Billionaire investor Warren Buffett announced that his annual charitable donations this year will not include the Bill & Melinda Gates Foundation, citing the disclosure of Microsoft co-founder Bill Gates' connections to convicted sex offender Jeffrey Epstein. In a statement on Tuesday, Buffett said he will donate approximately $6 billion to four foundations linked to his own family.

Buffett also stated that he wants all of his remaining Berkshire Hathaway stock, worth over $140 billion, to be donated to charity by the end of 2034. Previously, his plan was for his three children to distribute his remaining fortune within 10 years of his death. The 95-year-old investor emphasized that his remaining shares will be donated to the four foundations by December 31, 2034, regardless.

The majority of Buffett’s charitable gifts – more than $61 billion – have gone to the Gates Foundation since he announced his plan to give away his fortune in 2006. This year’s total donations are roughly equal to last year’s $6 billion, but Buffett’s family foundations are receiving significantly more, apparently accounting for the funds that would have gone to the Gates Foundation.

Gates has denied any knowledge of Epstein’s crimes and has not been accused of any wrongdoing. He stated he only met with Epstein because he thought it might help raise money for charitable causes. Epstein, accused of sexually abusing dozens of underage girls, was found dead in a Manhattan federal lockup in August 2019; his death was ruled a suicide.

Buffett had already said in 2024 that he planned to cut off donations to the Gates Foundation after his death and let his children decide the distribution. Tuesday’s decision accelerates that plan. Buffett and Gates were once exceptionally close friends, but Buffett told CNBC in March that he hadn’t spoken to Gates for months since before the Epstein files were released in autumn 2025.

Buffett also expressed amazement at how many wealthy and powerful people were caught up in the Epstein scandal, noting that Epstein exploited weaknesses in others. He is glad Epstein never visited Omaha, where Buffett has lived for decades. Buffett stepped down as Berkshire CEO in January but remains chairman; Greg Abel is now CEO.