Buffett redirects charitable giving away from Gates Foundation after reviewing Epstein ties

Warren Buffett told CNBC that Bill Gates' relationship with the late Jeffrey Epstein was "distasteful" and that he had closely examined the matter before changing his charitable giving pattern. The 95-year-old investor, who has donated Berkshire stock to the Gates Foundation every year since 2006, redirected this year’s contributions to four foundations linked to his children and his late wife’s namesake fund.

Buffett said he reviewed extensive information about Gates and Epstein and concluded that, while Gates had made mistakes, the situation was not beyond what he could have imagined. He added that he and Gates remain in contact, noting a recent three-hour meeting in Omaha and plans for further discussions.

The shift in donations reflects Buffett’s broader estate planning. He said his three children are being prepared to assume greater responsibility for the family’s wealth, and he intends to dispose of all his Berkshire shares within about eight years. This year’s allocations include 9 million Class B shares, valued at roughly $4.5 billion, to the Susan Thompson Buffett Foundation, and 1 million shares each, worth just under $500 million, to the Sherwood, Howard G. Buffett, and NoVo foundations.

Buffett also mentioned that he is recovering from leg surgery after a recent injury.