Warren Buffett Ends Gates Foundation Donations

Warren Buffett is reshaping one of the world’s most influential philanthropic partnerships by ending future donations to the Bill & Melinda Gates Foundation and placing responsibility for distributing his fortune in the hands of his three children.

The Berkshire Hathaway chairman said the decision reflects his confidence that his children are now fully prepared to oversee his long term charitable legacy.

Speaking in excerpts from an interview with CNBC, Buffett said, “I tell the three children that it is theirs, and it is their responsibility to get it done well.”

The comments came a day after the legendary investor announced nearly US$6 billion in Berkshire Hathaway stock donations without including the Gates Foundation among the recipients for the first time in nearly two decades.

Since 2006, Buffett has donated more than US$47 billion worth of Berkshire Hathaway shares to the Gates Foundation, making him one of its largest benefactors. This year’s donation of approximately 12 million Class B shares will instead be directed to four family affiliated foundations led by his children Susie Buffett, Howard Buffett and Peter Buffett.

The beneficiaries include the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. Together, these organizations have now received more than US$23 billion in Berkshire Hathaway stock from Buffett since 2006.

The decision marks a significant shift in Buffett’s philanthropic strategy as he prepares for the eventual transfer of his remaining fortune.

During the interview, Buffett also addressed his long standing friendship with Microsoft co founder Bill Gates, who served as a Berkshire Hathaway director for 16 years.

The two recently met in Omaha, weeks after renewed public attention surrounding documents related to Gates’ past association with convicted sex offender Jeffrey Epstein.

While acknowledging that Gates had made mistakes, Buffett defended his longtime friend.

“While it is distasteful, while he made mistakes, I made mistakes in hiring all kinds of people or choosing friends and then finding out later that one way or another they were not what I thought,” Buffett said.

Gates has repeatedly said he regrets meeting Epstein and has not been accused of any criminal wrongdoing.

Despite ending future donations to the Gates Foundation, Buffett emphasized that supporting the organization had been the right decision and expressed no regrets about their decades long friendship.

“We have had an enormous number of good times together. It has been a wonderful friendship,” Buffett said.

In a statement, Gates described Buffett as a dear friend whose generosity has helped save millions of lives through the foundation’s global health and development work.

“My gratitude to Warren is immeasurable, and I cherish the time we spend together. I hope we have much more of it,” Gates said.

Buffett also revealed that he is accelerating plans to distribute the rest of his Berkshire Hathaway holdings. Rather than waiting up to ten years after his death, he now wants the shares allocated by the end of 2034.

The move reflects both succession planning and his desire to ensure his children oversee the distribution while they remain actively involved. Buffett noted that his decision was influenced not only by mortality but also by the importance of maintaining sound judgment as he grows older.

“I reevaluated my whole situation,” Buffett said. “It is not just a question of mortality. It is a question of keeping your marbles.”

The announcement represents one of the biggest changes to Buffett’s philanthropic strategy in nearly twenty years and signals a new chapter in how one of the world’s largest fortunes will support charitable causes for generations to come.