Billionaire investor Warren Buffett has formally halted his long-standing annual donations of Berkshire Hathaway shares to the Bill & Melinda Gates Foundation, a move announced on July 14, 2026. This significant shift in philanthropic strategy, which redirects billions of dollars worth of stock, comes weeks after Microsoft co-founder Bill Gates appeared before the US House Oversight Committee to address his controversial links to the late convicted sex offender Jeffrey Epstein.
Buffett, who is 95 years old, had made an “irrevocable” commitment in 2006 to donate shares in his firm, Berkshire Hathaway, each year to the foundation, then known as the Bill and Melinda Gates Foundation, “throughout my lifetime.” However, on Tuesday, the Gates Foundation was conspicuously absent from the list of entities slated to receive billions of dollars worth of stock. Instead, these substantial shares will now be distributed among four foundations, all of which involve members of the Buffett family.
Buffett’s Strategic Philanthropic Reallocation
The decision marks a notable departure from a two-decade partnership during which Buffett has donated an estimated $47 billion (£35 billion) to the Gates’ charity. While Buffett did not explicitly name Bill Gates or Jeffrey Epstein in his statement regarding the cessation of donations, the timing has drawn considerable attention.
In March, Buffett offered a glimpse into his perspective when he told CNBC that he had not communicated with Gates “since the whole thing was unveiled.” He further elaborated on his cautious approach, stating, “I don’t want to be in a position where I know things… to be called as a witness.” This comment underscores a desire to distance himself from the unfolding controversy surrounding Gates’ association with Epstein.
Buffett also outlined his plan for his remaining stock, indicating that he will dispose of it over the next eight years. “Of course, mortality is unpredictable,” Buffett stated, “But my remaining shares will be donated to the four foundations one way or the other by 31 December, 2034.”
The Epstein Connection and Gates’ Congressional Testimony
The context for Buffett’s decision is rooted in the revelations surrounding Bill Gates’ association with Jeffrey Epstein. These links first came to light in January when the US Department of Justice released relevant files.
In June, Bill Gates testified before the US House Oversight Committee, where he answered questions about his relationship with Epstein. Epstein died in a New York prison in 2019 while awaiting trial on sex trafficking charges. During his testimony, Gates explained that he was introduced to Epstein in 2011 under the premise that Epstein could facilitate raising billions of dollars for global health initiatives, a core focus of the Gates Foundation.
Gates acknowledged his awareness of Epstein’s past legal troubles, stating, “I recall being aware that Epstein had faced prior legal issues, but I did not fully understand the extent of the crimes he committed.” This statement refers to Epstein’s 2008 guilty plea to soliciting a minor for prostitution and procuring a person under age 18 for prostitution. Gates expressed regret over the association, telling the committee, “I should never have met with Epstein in the first place. 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.”
Foundation’s Response and Enduring Strength
Despite the cessation of Buffett’s donations, the Gates Foundation has expressed gratitude for his long-standing support. In a statement to the BBC, the foundation said it was “grateful to Warren Buffett for his decades of support for our work.”
The foundation also sought to reassure stakeholders about its financial stability and future operations. It stated, “The foundation continues from a position of financial strength to advance our work through 2045, supported by Bill’s $200bn commitment.” This indicates that while Buffett’s contributions were substantial, the foundation believes it possesses sufficient resources to continue its global health and development initiatives.
A Shifting Landscape in Philanthropy
Buffett was once an ardent supporter of the Bill and Melinda Gates Foundation, articulating his “great” admiration for its accomplishments in 2006 when he first pledged his yearly donations. In 2010, Bill and Melinda Gates, alongside Buffett, co-founded the Giving Pledge, an initiative designed to encourage the world’s wealthiest individuals to commit the majority of their fortunes to philanthropic causes during their lifetimes or in their wills.
However, the philanthropic landscape surrounding the Gates family has seen several changes in recent years. Bill and Melinda Gates divorced in 2021 after 27 years of marriage. Subsequently, Melinda French Gates resigned from the foundation she co-founded in 2024, announcing her intention to donate $1 billion to support women’s rights in the United States. Buffett’s latest decision marks another significant evolution in the structure and funding of one of the world’s most influential charitable organizations, underscoring a period of re-evaluation and redirection among its key figures.
