Buffett Stops Gates Foundation Donations Amid Epstein Scandal

Warren Buffett halted donations to the Gates Foundation following revelations of Bill Gates' ties to Jeffrey Epstein. He donated $6 billion in Berkshire Hathaway stock to four family-run foundations instead. Gates' reputation suffered due to associations with Epstein, although he claims no criminal involvement.

Warren Buffett announced on Tuesday his decision to cease donations to the Gates Foundation, following revelations about Bill Gates’ interactions with the convicted sex offender Jeffrey Epstein. Instead, Buffett is channeling approximately $6 billion in contributions through his annual mid-year donation of nearly 12 million Class B shares of Berkshire Hathaway to four family foundations managed by his children—Susie, Howard, and Peter.

The 95-year-old chairman refrained from mentioning the Gates Foundation, which has historically received over $47 billion from him post his 2006 pledge. The move coincides with tarnishing revelations around Gates, following the release of U.S. Department of Justice files depicting him with Epstein. Although Gates, 70, is not accused of crimes, he has expressed regret for any associations with Epstein, denying awareness of his criminal activities.

The allocated shares include 9 million to the Susan Thompson Buffett Foundation, focused on reproductive health, and 1 million each to the Howard G. Buffett, Sherwood, and NoVo Foundations, addressing global hunger, regional nonprofits, and initiatives for marginalized communities, respectively. Buffett intends for these grants to grow annually, with particular expansion for the Susan Thompson Buffett Foundation.