Key facts
- Warren Buffett is donating $6 billion in Berkshire Hathaway stock to his family foundations.
- Buffett has ceased annual donations to the Bill & Melinda Gates Foundation.
- The decision follows revelations concerning Jeffrey Epstein.
- Buffett plans to divest all remaining Berkshire Hathaway shares by 2034.
- Buffett stated his decision to stop donating to the Gates Foundation was not a surprise to Bill Gates.
- Buffett has donated over $47 billion to the Gates Foundation since 2006.
Warren Buffett has announced he will no longer donate to the Bill & Melinda Gates Foundation, redirecting billions of dollars in Berkshire Hathaway stock to his own family's charitable organizations. This significant shift in his philanthropic strategy involves an initial donation of $6 billion.
Buffett has also stated his intention to divest all of his remaining Berkshire Hathaway shares by 2034. The decision to cease contributions to the Gates Foundation comes in the wake of recent revelations concerning Jeffrey Epstein, with Buffett stating he had read reports from Congress regarding Bill Gates' relationship with Epstein. Buffett indicated that his conversation with Bill Gates three weeks prior about this decision was not a surprise.
Buffett had committed to donating virtually all of his wealth, primarily held in Berkshire Hathaway stock, to philanthropic causes. Since 2006, he had donated more than $47 billion to the Gates Foundation.