Buffett cuts Gates from $6bn donation, accelerates $140bn plan

Warren Buffett donated roughly $6 billion to four family foundations on Tuesday, entirely omitting the Bill & Melinda Gates Foundation. The break follows recent disclosures of the Microsoft co-founder’s ties to convicted sex offender Jeffrey Epstein.

The distribution allocates about $4.5 billion in Berkshire Hathaway stock to the Susan Thompson Buffett Foundation. Three foundations managed by his children—the Sherwood Foundation, Howard G Buffett Foundation and Novo Foundation—will each receive about $500 million in shares.

By redirecting these funds, Buffett has effectively absorbed the Gates Foundation’s usual allocation into his family’s philanthropic vehicles. Since 2006, the majority of Buffett’s charitable giving, totalling more than $61 billion, has gone to the Gates Foundation.

A tighter timeline for a massive fortune

Buffett also announced that his remaining Berkshire Hathaway stock, worth more than $140 billion, will be fully donated by December 31, 2034. He previously planned for his three children to distribute his fortune within a decade of his death.

“Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034,” Buffett said. He stipulated that annual grants to the three children’s foundations should grow, with the Susan Thompson Buffett Foundation receiving a somewhat greater rate of growth.

For investors, the commitment to offload his entire $140 billion-plus Berkshire stake by 2034 establishes a definitive timeline for one of the largest wealth distributions in history. Buffett stepped down as Berkshire CEO in January, handing the role to Greg Abel, though he remains chairman and the largest shareholder.

The Epstein fallout

The Gates Foundation has historically funded global charitable causes. Redirecting future billions away from the organisation removes a major capital source from global philanthropy. Buffett cited a desire to avoid any entities that could face future investigation, telling CNBC he is amazed at how many powerful people Epstein deceived.

“It is astounding to me that anybody could be that successful as a con person,” Buffett said. “I don't see how anybody could have pulled that off.”

The decision formalises a stark fracture between Buffett and Gates, two men who once vacationed together and served on each other's boards. Buffett noted he had not spoken to Gates for months preceding the autumn 2025 release of Epstein files. Gates has denied any knowledge of Epstein’s crimes and said he met with the financier only to raise money for charity, while his foundation is conducting an internal review of its past engagement expected this summer.