Warren Buffett stops Gates Foundation donations after labeling Epstein ties distasteful

Warren Buffett, the 95-year-old chairman of Berkshire Hathaway, has concluded a two-decade philanthropic partnership with the Bill & Melinda Gates Foundation. This transition, confirmed on Tuesday, 14 July 2026, involves redirecting his annual midyear charitable distribution away from the foundation. Instead, Buffett has allocated nearly $6 billion in Berkshire Hathaway stock to four foundations managed by his children: the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation.

The move follows intensive public scrutiny regarding Microsoft co-founder Bill Gates and his historical associations with the late convicted sex offender Jeffrey Epstein. In an interview Wednesday, 15 July 2026, with CNBC, Buffett characterized the relationship as distasteful but maintained that the choice to discontinue funding was primarily driven by his estate planning objectives. Buffett stated that he intends to hand stewardship of his remaining fortune to his children while they are in their prime, rather than waiting for a timeline following his death.

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Regarding the association between Gates and Epstein, Buffett noted that he had read a great deal since Jan. 1 regarding the matter, including sworn testimony provided to the US House Oversight Committee in June 2026. While labeling the conduct distasteful and acknowledging that Gates made mistakes, Buffett suggested the situation did not reach the level of unforgivable behavior. I’ve made mistakes in hiring all kinds of people, or choosing friends, and then finding out later that one way or another they weren’t what I thought they were, Buffett said. I found nothing in there that was beyond what I could picture myself doing.

Gates, who had a relationship with Epstein beginning in 2011, cut ties with the financier in late 2014. He has denied any wrongdoing and has not been accused of criminal activity. In his testimony to the US House Oversight Committee, Gates explained that he initially engaged with Epstein under the impression that the financier could facilitate fundraising for global health initiatives. Gates has since expressed regret for the association, stating to the committee: I should never have met with Epstein in the first place.

The realignment of Buffett’s philanthropy is a notable departure for the sector. Since 2006, Buffett has directed more than $47 billion in Berkshire stock to the Gates Foundation. Despite the withdrawal of this support, the Gates Foundation reported an endowment valued at nearly $90 billion at the end of 2025 and plans to continue operations until 2045.

Acceleration of Estate Distribution

Buffett has accelerated his timeline for distributing his remaining Berkshire Hathaway stock, now aiming to complete the process by the end of 2034. This shift requires an annual donation pace exceeding $17 billion. Buffett, who revealed that he recently underwent surgery for a broken leg, stated that the decision is motivated by a desire to ensure his children manage the funds while they are fully capable.

Buffett and Gates have maintained a friendship for approximately 35 years. The two met in Omaha roughly three weeks prior to the announcement for a three-hour discussion, and Buffett noted that the change in funding was not a surprise to Gates. In a statement, Gates described Buffett as one of the greatest philanthropists of all time, and a dear friend, adding that his gratitude is immeasurable.

This acceleration in giving impacts the shareholder structure for Greg Abel, Buffett’s designated successor. With Buffett controlling nearly 30% of the voting power, the rapid divestment of family-controlled shares shifts the company’s ownership dynamics sooner than previously projected. While Buffett continues to endorse Abel’s leadership, the coming eight years will mark a transition in the conglomerate’s ownership. The Gates Foundation, which launched an external review in April 2026 regarding its historical ties, expects to provide further updates later this summer.