Buffett leaves Gates Foundation out of $6 billion donation plan
Warren Buffett directed his latest Berkshire Hathaway stock gifts to four family-linked foundations, excluding the Gates Foundation.
By Daniel Okafor · Business Editor
3 min read
Warren Buffett has left the Gates Foundation out of his annual giving plan, directing about $6 billion in Berkshire Hathaway stock to four foundations tied to his family. The move shifts money away from the foundation that has received the largest share of Buffett’s philanthropy since he began giving away his fortune in 2006.
Buffett said Tuesday that he also wants all of his remaining Berkshire Hathaway shares, valued at more than $140 billion, donated by Dec. 31, 2034. His earlier plan called for his three children to distribute the rest of his fortune within 10 years after his death.
“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 said in a statement. He said he wants annual grants to grow for the foundations led by his children, with the Susan Thompson Buffett Foundation increasing at a somewhat faster pace.
Buffett plans to give about $4.5 billion in stock this year to the Susan Thompson Buffett Foundation. He also plans to give about $500 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the Novo Foundation, which are run by his children.
The total is close to the roughly $6 billion Buffett donated last summer, according to the figures he announced. The family foundations are receiving a larger share than in prior years, replacing money that previously would have gone to the Gates Foundation.
Epstein disclosures hang over the split
The change follows disclosures about Bill Gates’ ties to Jeffrey Epstein, the convicted sex offender who died in federal custody in Manhattan in August 2019. New York City’s medical examiner ruled Epstein’s death a suicide after he had been accused of sexually abusing dozens of underage girls.
Gates has denied knowing about Epstein’s crimes and has not been accused of wrongdoing. He has said he met with Epstein because he believed the relationship might help raise money for charitable causes.
The Justice Department’s released Epstein-related files include emails between Gates and Epstein about philanthropic projects, calendar entries showing meetings and photos of Gates at events where Epstein also appeared. The Gates Foundation said it hired someone in March to examine its past engagement with Epstein and review policies for screening future philanthropic partnerships; Gates and the foundation’s board expect an update this summer.
Buffett and the Gates Foundation did not immediately respond Tuesday to questions. CNBC said Buffett was scheduled to discuss the matter in an exclusive interview Wednesday morning.
A long alliance changes course
Buffett has donated more than $61 billion to charity, with the Gates Foundation receiving the majority of his gifts since 2006. For years, he regularly sent blocks of Berkshire stock both to the Gates Foundation and to the four family-linked foundations.
Buffett said in 2024 that donations to the Gates Foundation would stop after his death, with his three children deciding where to send the rest of his wealth. Tuesday’s announcement speeds up that shift.
Buffett and Gates were once close friends who spoke often, played bridge online and vacationed together. Gates served for years on Berkshire Hathaway’s board, and Buffett served on the Gates Foundation board.
Buffett told CNBC in March that he had not spoken with Gates for months, since before the Epstein files were released in fall 2025. He also told CNBC that Epstein’s ability to draw in wealthy and powerful people was “astounding” and described him as a successful con man who exploited people’s weaknesses.
Buffett would not discuss Gates’ involvement with Epstein, according to CNBC, but said he did not want to be connected to anything that could later face investigation. He said he was glad Epstein never came to Omaha, where Buffett has lived for more than six decades.
Buffett stepped down as Berkshire Hathaway chief executive in January after 60 years leading the company, but remains chairman and its largest shareholder. Greg Abel is now CEO of Berkshire Hathaway.
This story draws on original reporting from Fortune.