Warren Buffett ends 20-year Gates Foundation donations, accelerates $47 billion stock transfer to family charities amid Epstein scandal
The legendary investor says he will donate all his remaining Berkshire Hathaway shares by 2034 to his children's and late wife's foundations, marking the first time in two decades the Bill & Melinda Gates Foundation receives nothing.
A fractured friendship and a shifted fortune
Warren Buffett's annual stock donation made a break from the past on Tuesday: for the first time in 20 years, none of the shares went to the Bill & Melinda Gates Foundation. Instead, the 95-year-old investor directed the gift to the charitable foundations of his three children and the Susan Thompson Buffett Foundation, named after his late wife. The same four organizations will receive the entirety of his remaining Berkshire Hathaway stake, Buffett said.
Of course death is unpredictable, but my remaining shares will be donated to the four foundations in one way or another by December 31, 2034.
Buffett had previously transferred roughly $47 billion in Berkshire stock to the Gates Foundation, making it the largest recipient of his philanthropy for years. That relationship now appears over, driven by documents released by the U.S. Justice Department in early 2026 that renewed public scrutiny of Bill Gates's past contacts with Jeffrey Epstein.
The Epstein link and a stalled relationship
The Microsoft co-founder's name surfaced repeatedly in Epstein's emails, which the Justice Department released at the start of the year. In March, Buffett said he would not speak with Gates again until the matter was clarified.
I will not talk to him again until clarity has been established about his contacts with Jeffrey Epstein.
The Gates Foundation announced it would conduct an internal review of its earlier interactions with Epstein and tighten its policies for new philanthropic partnerships. Buffett is reportedly waiting for the outcome of that review before deciding whether any future contact with Gates, or a restoration of the charity, might occur.
Buffett's accelerating giving timetable
Buffett has pledged to give away his entire Berkshire fortune during his lifetime or shortly after. A year ago he had already picked up the pace, then distributing shares worth about $320 million to each of the three family foundations and later promising additional gifts of roughly $200 million each. The latest announcement accelerates that timeline further, with annual gifts set to increase and the Susan Thompson Buffett Foundation receiving slightly larger sums than the others.
- Buffett begins accelerating charity, giving each family foundation about $320 million.
- U.S. Justice Department releases documents containing Epstein's emails, renewing scrutiny of Bill Gates's past contacts.
- Buffett says he will not talk to Gates again until the Epstein matter is clarified.
- Annual donation omits Gates Foundation for first time; Buffett announces plan to finish all donations by 2034.
- Buffett's target date to complete the transfer of his remaining Berkshire shares to the four family foundations.
Behind the speed-up is also a practical motive: Buffett wants to advance the transfer so far that his children can settle his estate without major difficulties after his death.
A long career yields a vast fortune
Buffett stepped down as head of Berkshire Hathaway at the turn of 2026 at age 95. He bought the small textile manufacturer in the 1960s and turned it into one of the world's most successful investment vehicles, with stock returns consistently outpacing the broader market. His investment approach (buying promising companies at good prices) built a personal stake large enough that even the remaining shares directed to family foundations will distribute billions of dollars in philanthropic capital over the coming years.
