First time in 20 years: Warren Buffett suspends midyear donation to Gates Foundation over Epstein review

An unprecedented pause

Warren Buffett, the 95-year-old chairman of Berkshire Hathaway, has decided to skip his annual midyear donation to the Bill and Melinda Gates Foundation for the first time in twenty years. The decision, reported exclusively by The Wall Street Journal, comes as Buffett awaits the findings of an external review into the foundation's past associations with the late sex offender Jeffrey Epstein. Typically, Buffett transfers several billion dollars' worth of Berkshire Hathaway stock to the foundation each June or early July. This year, that transfer will not occur, with Buffett postponing a decision until later in the year, possibly around Thanksgiving, when he publishes his traditional annual letter.

For the first time in two decades, Warren Buffett is skipping his usual midyear donation to the Gates Foundation so the famed investor can wait to see findings of a review into its Jeffrey Epstein ties.

The Epstein shadow over the foundation

The Gates Foundation has come under scrutiny because of Bill Gates's past meetings with Epstein, a convicted sex offender who died in jail in 2019. Emails released earlier this year by the US Department of Justice revealed that Epstein had been in contact with employees of the foundation. While no criminal investigation has targeted Gates personally, the revelations have tarnished his reputation. Gates, 70, has repeatedly expressed regret over his associations with Epstein, stating that he never witnessed any criminal acts and denying that he spent time with Epstein's victims.

A review ordered internally

Facing growing questions, the foundation's CEO Mark Suzman commissioned an external review to assess the extent of the organization's prior contacts with Epstein. The review is expected to yield its conclusions this summer. The outcome could be pivotal in determining whether Buffett, who has served as a trustee of the foundation since 2006, resumes his donations. A source familiar with Buffett's thinking indicated that the investor may wait until his Thanksgiving letter, typically released in late November, to announce any decision about future gifts.

Two decades of historic generosity

Buffett's relationship with the Gates Foundation dates back to the early 2000s. Over the past twenty years, he has donated more than $47 billion in Berkshire Hathaway shares to the organization, making him its largest benefactor after the Gates family themselves. His midyear gifts had become a reliable fixture of the philanthropic calendar. Even as he pauses support for the Gates Foundation, Buffett is still expected to make donations to other charities this year, according to Bloomberg.

What lies ahead

The external review's findings will determine if Buffett resumes contributions. If the report clears the foundation of significant wrongdoing, the donations could restart, perhaps retroactively. Conversely, a damning assessment could permanently alter one of the most celebrated partnerships in modern philanthropy. For now, the world's largest private foundation faces an uncertain summer, while its most important donor watches from the sidelines.