Warren Buffett has redirected his annual charitable donations away from the Bill Gates Foundation, marking a dramatic shift in one of philanthropy's most consequential partnerships. The 95-year-old billionaire announced Tuesday that he will distribute roughly $6 billion across four family foundations this year, notably excluding Gates for the first time in nearly two decades.
The omission follows public disclosures of Gates' meetings with Jeffrey Epstein, the financier who was found dead in a Manhattan federal detention cell in August 2019 in what the New York City medical examiner ruled a suicide. Gates has consistently denied any involvement in Epstein's crimes and has faced no accusations of wrongdoing.
Buffett's decision represents a seismic change in his giving strategy. Since announcing his wealth distribution plan in 2006, the Berkshire Hathaway chairman had directed more than $61 billion to the Gates Foundation. That relationship defined the charitable landscape for two decades. Now it appears to be ending.
The annual distribution announced Tuesday totals roughly $4.5 billion to the Susan Thompson Buffett Foundation, named for Buffett's late wife, along with approximately $500 million each to three foundations run by his adult children: the Sherwood Foundation, Howard G Buffett Foundation, and Novo Foundation. The combined amount mirrors last year's donations but shows a marked reallocation of funds that previously flowed to Gates.
Buffett also revealed an accelerated timeline for distributing his remaining fortune. He plans to donate his entire remaining stake in Berkshire Hathaway, valued at more than $140 billion, to charity by December 31, 2034. Previously, the plan called for his children to manage the distribution within a decade of his death.
The two men were once inseparable. Buffett and Gates developed a close friendship over decades, frequently playing bridge online, taking vacations together, and serving on each other's boards. Buffett had previously defended Gates publicly. Three years ago, he halted a shareholder presentation by a man who questioned Gates' character due to his Epstein connections. Peter Flaherty was arrested for trespassing that day, though the charge was later dropped, leaving a lawsuit still pending.
But tensions shifted dramatically after Epstein-related documents were released in fall 2025. Buffett told CNBC in March that he had not spoken to Gates for months preceding those disclosures.
The newly released justice department files paint a detailed picture of Gates' past interactions with Epstein. Documents include email exchanges about philanthropic initiatives, calendar entries documenting meetings, and photographs of Gates attending events with Epstein. Gates has since acknowledged these contacts, saying he met with Epstein believing it might help raise money for charitable causes.
The Gates Foundation announced in March that it had hired an outside investigator to review its past engagement with Epstein and assess its vetting procedures for future partnerships. The foundation expects findings from that review sometime this summer.
Buffett explained his reasoning to CNBC by focusing on Epstein's remarkable ability to deceive wealthy and powerful people. "It is astounding to me that anybody could be that successful as a con person," Buffett said, noting that Epstein "found their weakness. It might have been sex. It might be power, it might be, whatever it might be."
Buffett said he wanted no involvement with anything that could become the subject of future investigation. He expressed relief that Epstein never visited Omaha, where Buffett has lived for over six decades, and marveled at how many prominent figures had been ensnared by the scheme.
Buffett stepped down as Berkshire Hathaway CEO in January after 60 years but remains chairman and the company's largest shareholder. Greg Abel now leads the company operationally.
Author James Rodriguez: "This isn't just about money changing direction, it's a public repudiation of one of the world's most famous friendships, and Buffett clearly believes the reputational risk outweighs the relationship."
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