Billionaire Warren Buffett stops donations to Bill Gates charity - BBC
Billionaire Warren Buffett has ended his long-standing donations to the Bill and Melinda Gates Foundation. The decision follows public scrutiny regarding Bill Gates' past association with Jeffrey Epstein.
Why it matters
The move marks a significant shift in philanthropic strategy for one of the world's largest charitable foundations and highlights the reputational risks associated with high-profile associations.
Share Save Add as preferred on Google Dearbail Jordan Business reporter Getty Images Warren Buffett (L) had donated to Bill Gates' (R) foundation for 20 years Billionaire investor Warren Buffett has stopped giving donations to Bill Gates' charitable foundation weeks after the Microsoft co-founder detailed his links to the late sex offender Jeffrey Epstein.
Buffett "irrevocably" committed in 2006 to donate shares in his firm, Berkshire Hathaway, each year to the Bill and Melinda Gates Foundation as it was then known "throughout my lifetime".
But on Tuesday, the Gates Foundation was left off the list of firms that will receive billions of dollars worth of stock.
The stock will instead be split between four foundations involving members of the Buffett family. The 95-year-old said he will dispose of his remaining stock over the next eight years.
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