Buffett: Gates Foundation Cuts Not Due to Epstein Ties

Warren Buffett stated on Wednesday that his decision to cease future donations to the Gates Foundation is primarily driven by his confidence in his three children's ability to manage the distribution of his entire fortune, rather than Bill Gates's past association with convicted sex offender Jeffrey Epstein. Buffett described Gates's ties to Epstein as "distasteful" but indicated that such associations are not entirely dissimilar to personal misjudgments he has also made in selecting individuals or friends. He informed CNBC that he had extensively reviewed information regarding Gates and Epstein, including sworn testimony and cross-examinations, and acknowledged that Gates had eventually severed ties with Epstein.

Buffett also noted that Bill Gates was not taken aback by the announcement made Tuesday regarding Buffett's plan to donate all remaining Berkshire Hathaway stock, valued at $140 billion, to foundations linked to his family and children. Gates had visited Buffett in Omaha several weeks prior for an extended discussion. The two had maintained limited contact since more details emerged about Gates's relationship with Epstein, particularly after the federal government began releasing documents from the Epstein investigation. Gates has previously asserted that his interactions with Epstein were motivated by a desire to solicit funds for charitable endeavors and that he was unaware of Epstein's criminal activities.

Jeffrey Epstein, who faced accusations of sexually abusing numerous underage girls, was discovered deceased in a Manhattan federal detention center in August 2019. The New York City medical examiner subsequently ruled his death a suicide. Buffett had previously outlined his intentions in 2024 to halt contributions to the Gates Foundation posthumously, empowering his three children to determine the allocation of the remainder of his wealth.