Billionaire Warren Buffett stops donations to Bill Gates charity
Warren Buffett has ended his long-standing practice of donating Berkshire Hathaway stock to the Bill and Melinda Gates Foundation. The decision follows public scrutiny regarding Bill Gates' past association with the late sex offender Jeffrey Epstein.
Why it matters
The move marks a significant shift in philanthropic alignment among the world's wealthiest individuals and highlights the reputational risks of personal associations.
Image source, Getty Images Image caption, 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 Thursday, 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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