Warren Buffett’s Berkshire Hathaway has ceased donations to the Bill and Melinda Gates Foundation after 20 years, a move Buffett confirmed followed Bill Gates’ testimony regarding his association with the late sex offender Jeffery Epstein. Buffett described the relationship as distasteful
while preparing to transition his philanthropy to foundations managed by his three children.
The End of a Two-Decade Philanthropic Partnership
For the first time in two decades, Berkshire Hathaway has halted its annual charitable donations to the Bill and Melinda Gates Foundation. Instead, the firm has redirected its remaining stock to foundations linked to the family of the 95-year-old investor. This pivot marks a significant shift in the legacy of Warren Buffett, who since 2006 had pledged to donate his fortune to the foundation, ultimately contributing $47bn (£34.7bn) to the charity, as reported by the BBC.
The decision to break ties with the Gates Foundation came after Buffett reviewed testimony provided by Bill Gates to the U.S. House Oversight Committee in June. During that hearing, the Microsoft co-founder addressed his past meetings with Jeffery Epstein, who died in a New York prison in 2019 while awaiting trial on sex trafficking charges. Gates admitted during his testimony that he had been introduced to Epstein in 2011 with the expectation that the financier could assist in raising billions for global health initiatives.
Buffett’s Assessment of Personal and Professional Mistakes
Buffett, who has maintained a wonderful friendship
with Gates since they met in 1991, did not mince words regarding the nature of the association. While he characterized the relationship as distasteful,
he also placed the situation within the context of his own life experiences. While it’s distasteful, while he made mistakes, I’ve made mistakes in hiring all kinds of people, choosing friends and finding out later that one way or another they weren’t what I thought they were,
Buffett told CNBC. So, I found nothing in there that was beyond what I could picture myself doing.
According to reporting from the BBC, the two men met for three hours about three weeks ago, during which Buffett informed Gates of his decision. Buffett emphasized that the move was not a surprise to the Microsoft co-founder. Despite the cessation of funding, Buffett noted that the Gates Foundation remains well-capitalized, having distributed $8.5bn in charitable support in 2025 alone.
The Transition to the Buffett Family Foundations
As Warren Buffett shifts his focus away from the Gates Foundation, the spotlight has intensified on his three children—Susan A. (Susie) Buffett, Howard G. (Howie) Buffett, and Peter Buffett—who are tasked with managing his vast fortune. Bloomberg estimates the 95-year-old’s wealth at more than $150 billion, and the investor has requested that the entirety of his estate be distributed within 10 years of his death, as detailed by CNBC.
The scale of this undertaking requires the siblings to disburse at least $15 billion annually. The process is governed by a strict requirement for unanimity, meaning all three must agree on the distribution of funds.
| Sibling | Focus Area | Foundation |
|---|---|---|
| Susie Buffett | Early childhood education, social justice | Susan Thompson Buffett Foundation, Sherwood Foundation |
| Howie Buffett | Food security, conflict resolution | Howard G. Buffett Foundation |
| Peter Buffett | Health and economic programs for women and children | NoVo Foundation |
The Buffett heirs have spent more than 20 years managing their respective foundations using annual shares gifted by their father since 2006. As they prepare to take on the responsibility of the larger estate, the siblings remain focused on the values of the household in which they were raised—one where their father famously drove a blue Volkswagen bug and they were taught the importance of work and independence.
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