Nicolai Haugsted
Buffett changes course after Bill Gates’ Epstein connections resurface.
Warren Buffett is reshaping one of the world’s biggest philanthropic commitments, quietly leaving the Gates Foundation off his latest multibillion-dollar donation after renewed scrutiny surrounding Bill Gates’ past interactions with Jeffrey Epstein.
According to Reuters, The Berkshire Hathaway chairman announced Tuesday that roughly $6 billion worth of company stock will instead be divided among four charitable foundations run by his children, marking a significant change from a donation pattern that had remained largely unchanged for nearly two decades.
A major shift in Buffett’s giving
Buffett said he is donating 12 million Class B Berkshire Hathaway shares to foundations overseen by his daughter Susie and sons Howard and Peter.
He also revealed that all of his remaining Berkshire shares will be transferred to those same family foundations by December 31, 2034, effectively outlining how his fortune will be distributed over the coming years.
Noticeably absent from the announcement was the Bill & Melinda Gates Foundation, which has received more than $47 billion in Berkshire stock since Buffett pledged in 2006 to donate shares throughout his lifetime.
Last year’s contribution to the foundation alone exceeded $4.5 billion.
Epstein revelations remain in focus
The change comes after renewed attention surrounding Bill Gates’ past relationship with convicted sex offender Jeffrey Epstein.
Earlier this year, Gates testified before members of Congress that he “did not fully understand the extent” of Epstein’s crimes during the period when the two were in contact while discussing fundraising opportunities for the Gates Foundation.
Gates also told lawmakers that he never personally witnessed Epstein engage in criminal conduct.
A new direction for Buffett’s fortune
At 95, Buffett has spent years directing much of his charitable giving through the Gates Foundation, making him its largest outside donor.
His latest announcement signals a clear departure from that long-standing arrangement, with future donations now set to flow exclusively through foundations controlled by his own family rather than the organization that has been central to his philanthropy since 2006.
