OMAHA, Neb. (AP) — Billionaire Warren Buffett revealed a change in his philanthropic plans, excluding the Bill Gates Foundation from his annual donations. This decision follows the revelation of Bill Gates’ connections with Jeffrey Epstein, a convicted sex offender.
Despite this exclusion, Buffett plans to donate approximately $6 billion to four foundations related to his family. He announced that he intends all his remaining Berkshire Hathaway stocks, valued at over $140 billion, to be donated to charity by the end of 2034. Previously, it was planned for his three children to distribute his fortune within 10 years following his death. Buffett, currently 95 years old, stated, “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.”
The aim is for the grants to increase annually, benefitting the three foundations managed by his children and the Susan Thompson Buffett Foundation.
Buffett did not respond immediately to inquiries on Tuesday, but CNBC reported he would give an exclusive interview on Wednesday. The Gates Foundation acknowledged Buffett’s contributions in a statement, highlighting his support that totals more than $47 billion and aids their mission to enhance health and opportunity globally.
Despite the change in donation recipients, Buffett’s contributions this year match those from the previous year. Historically, over $61 billion of his charitable gifts have been allocated to the Gates Foundation since 2006. Regular donations have given Berkshire Hathaway stock to both the Gates Foundation and the four foundations managed by his children.
This year, Buffett plans to allocate $4.5 billion in Berkshire Hathaway stock to the Susan Thompson Buffett Foundation. Additionally, each of his children’s foundations—the Sherwood Foundation, Howard G. Buffett Foundation, and Novo Foundation—will receive about $500 million.
Bill Gates has denied any involvement in Epstein’s unlawful activities. Despite meeting Epstein with the intention to raise funds for charitable efforts, Gates asserts he was unaware of Epstein’s criminal actions. Epstein, facing accusations of abuse against underage girls, was found dead in 2019, with his death ruled as suicide.
Buffett had stated that after his passing, his donations to the Gates Foundation would cease, allowing his children to decide how to distribute his remaining wealth. The recent decision to exclude the Gates Foundation accelerates this plan.
In the past, Buffett and Gates were close friends, often communicating, playing bridge online, and vacationing together. Gates had served on the board of Berkshire Hathaway, and Buffett was on the Gates Foundation’s board. However, Buffett confirmed with CNBC that he hasn’t been in touch with Gates since before the Epstein information emerged.
Disclosures began in December 2025, affecting their friendship and leading to Buffett’s decision. In previous instances, Buffett defended Gates from criticisms regarding his ties with Epstein.
Buffett remarked on Epstein’s deceptive success, expressing amazement at the number of people involved in the scandal. He chose not to discuss Gates’ part concerning potential investigations. Gates recently addressed his connections to Epstein with his foundation’s staff following documentation released by the Justice Department involving email exchanges and events attended together involving Gates and Epstein.
The Gates Foundation initiated an evaluation of past engagements with Epstein to enhance vetting procedures for future partnerships. The foundation expects an update this summer. Buffett expressed relief that Epstein never visited Omaha, where Buffett has lived for over six decades. Known as a remarkable investor, Buffett expanded Berkshire by acquiring insurance entities, utilities, brands like Dairy Queen, and the BNSF railroad.
Buffett stepped down as Berkshire’s CEO in January following 60 years of leadership. However, he remains chairman and the largest shareholder. Greg Abel currently serves as CEO of Berkshire Hathaway.