Warren Buffett excludes Gates Foundation from his annual donations of Berkshire stock
Warren Buffett has excluded the Gates Foundation from his annual Berkshire Hathaway stock donations, opting instead to distribute wealth through his children's foundations. This decision follows public scrutiny regarding Bill Gates' past associations with Jeffrey Epstein.
Why it matters
The shift in philanthropic strategy by one of the world's wealthiest investors signals a significant change in the landscape of global charitable giving.
Warren Buffett said that it didn't come as a surprise when he told Bill Gates about his decision to stop donating to the Gates Foundation after partnering on the group's philanthropic initiatives for two decades. Buffett, 95, didn't include the Gates Foundation when he announced the donation of almost $6 billion of Berkshire Hathaway stock on Tuesday, a move which follows revelations about interactions between Gates, the co-founder of Microsoft, and late sex offender Jeffrey Epstein. The billionaire told CNBC he "had read what Congress came up with. I'd read everything," after Gates recently met with Congress amid lawmakers' investigations into Epstein. Gates hasn't been accused of crimes and has repeatedly expressed regret for associating with Epstein.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in