Buffett ends $47bn Gates Foundation donations over Epstein ties
Warren Buffett has halted two decades of donations to the Gates Foundation, a move that could reshape global health funding networks relied upon by European policymakers and NGOs.
Berkshire Hathaway has stopped giving donations to the Gates Foundation for the first time in 20 years. Instead, Warren Buffett is handing his remaining stock to foundations linked to his family. The shift ends a lifetime pledge made in 2006 that has channelled $47bn into the charity.
The decision follows Bill Gates' June testimony to the US House Oversight Committee regarding his relationship with Jeffrey Epstein. Gates said he met Epstein in 2011 because he was introduced as someone who could help raise billions for global health. Epstein died in a New York prison in 2019 while awaiting trial on sex trafficking charges.
In his testimony, Gates acknowledged he knew Epstein had faced prior legal issues but did not grasp the extent of his crimes. "I should never have met with Epstein in the first place," Gates told the committee. "Based on what I know now, I understand that even if he had delivered the donors he promised, it would not have justified associating with him."
Buffett told CNBC he had read the congressional transcript and found Gates' relationship with Epstein "distasteful". However, the 95-year-old investor offered a measured defence of a friend he has known since 1991. "I don't know whether I've done dumber things but I've done many dumb things in life," Buffett said, adding they have had an "enormous number of good times together" in a "wonderful friendship".
For European stakeholders, this redirection of capital carries tangible economic implications. The Gates Foundation is a dominant force in global health, a sector closely tied to European public policy and international development budgets. The charity distributed $8.5bn in support in 2025 alone. A structural change in its primary funding pipeline forces European organisations that partner with the foundation to reassess long-term planning.
Buffett noted the foundation still holds "very substantial resources" without his backing. He explained that his thinking evolved because he initially doubted his three children could manage such vast sums. He now believes they are "fully capable and deeply aligned" with his goals. Gates called Buffett "a dear friend", adding: "My gratitude to Warren is immeasurable."
