Buffett holds back Gates Foundation donation while Epstein review proceeds

Warren Buffett has paused his annual contribution to the Gates Foundation while it reviews its connections to Jeffrey Epstein, The Wall Street Journal reported. The delay matters because Buffett has been one of the foundation’s largest donors and had previously committed support described as lasting for his lifetime.

People familiar with Buffett’s plans told the Journal that the 95-year-old investor is holding off on a decision until later this year. The timing could coincide with his annual Thanksgiving letter, according to the Journal.

Buffett has typically made summer donations of Berkshire Hathaway shares worth billions of dollars to the foundation, the Journal reported. Reuters reported that Buffett gave more than $47 billion to the Gates Foundation from 2006 through 2025.

Fortune reported that representatives for Buffett and the Gates Foundation did not immediately respond to its requests for comment.

Foundation review is expected this summer

The Journal reported that Buffett wants to see the results of a Gates Foundation-commissioned review into the organization’s links to Epstein before making his next decision. The foundation hired the law firm WilmerHale to conduct the review, and the findings are expected this summer, according to the Journal.

The pause adds strain to a long-running philanthropic alliance. Buffett, Bill Gates and Melinda French Gates helped launch the Giving Pledge in 2010, an effort aimed at encouraging billionaires to donate most of their wealth.

CNBC reported in March that Buffett said he had not spoken with Gates since the Justice Department’s Epstein files became public. Buffett told CNBC that extended conversations made little sense until the matter was resolved and added, "I don’t want to be under oath."

Gates did not attend Berkshire Hathaway’s annual meeting in early May, Fortune reported. Gates had previously served on Berkshire’s board until 2020.

Gates addressed Epstein in House testimony

In a June deposition before the House Oversight Committee, Gates said he met Epstein in 2011 and described the relationship as a "grave error in judgment." According to the committee transcript, Gates denied seeing criminal conduct by Epstein.

In the deposition, Gates said his work depends on reputation to build partnerships that save lives. He said meeting Epstein put that work at risk and conflicted with his efforts to improve health and opportunity.

A Gates spokesperson has said Gates regrets meeting Epstein and did not witness or participate in illegal behavior, Fortune reported.

Documents that surfaced in January showed Epstein drafted notes to and about Gates that suggested Gates had extramarital affairs, Fortune reported. Gates’ representatives have denied those claims, calling them false, according to Fortune.

Fortune has also reported that Epstein spent about a decade trying to work his way into Gates’ circle, both directly and through intermediaries, and continued those efforts after Gates stopped communicating with him.

French Gates has also drawn a line

Melinda French Gates divorced Bill Gates in 2021 after nearly 30 years of marriage, Fortune reported. She resigned in 2024 as co-chair of what was then the $63 billion Bill & Melinda Gates Foundation and received an additional $12.5 billion for her own work supporting women and families, according to Fortune.

French Gates now runs Pivotal, an independent organization focused on gender equality and global health, Fortune reported. In a February interview with NPR, she said Gates and others named in the Epstein files had to answer for what was described there, rather than her.

The scrutiny comes as the Gates Foundation prepares to spend down its endowment and close at the end of 2045, Fortune reported. The foundation has also told employees it expects to cut hundreds of jobs in the years ahead as it accelerates its giving, according to Fortune.

This story draws on original reporting from Fortune.