Warren Buffett Excludes Gates Foundation From Nearly $6 Billion Donations for First Time in Decades

OMAHA, Neb. — Billionaire investor Warren Buffett has directed nearly $6 billion in Berkshire Hathaway shares to four foundations linked to his family, omitting the Bill & Melinda Gates Foundation for the first time since he began his major annual giving program two decades ago.

In a statement released in mid-July, the 95-year-old chairman of Berkshire Hathaway announced he would convert Class A shares into 12 million Class B shares and donate them as follows: approximately 9 million shares, valued at roughly $4.4 billion to $4.5 billion, to the Susan Thompson Buffett Foundation, named for his late wife; and 1 million shares each, worth about $500 million apiece, to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

"My goal is to dispose of all of my Berkshire shares within about eight years," Buffett said. "As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by December 31, 2034."

The announcement marked a clear shift. Since 2006, when Buffett pledged the bulk of his fortune to philanthropy, the Gates Foundation had been the largest regular recipient of his midyear gifts of Berkshire stock. Over that period he has transferred more than $47 billion in shares to the organization founded by Microsoft co-founder Bill Gates and his former wife, Melinda French Gates.

Buffett had already indicated in 2024 that donations to the Gates Foundation would end after his death and that his remaining wealth would be handled through family foundations. The latest move accelerates that timeline by channeling this year's gifts exclusively to the four family-linked entities and confirming that the rest of his Berkshire holdings will follow the same path by the end of 2034.

The exclusion comes amid heightened scrutiny of the Gates Foundation's past associations with Jeffrey Epstein, the convicted sex offender who died in 2019. The foundation launched an external review by the law firm WilmerHale after emails and other materials surfaced showing contact between foundation staff and Epstein. Buffett has said he has not spoken with Gates since the disclosures became public.

In comments after the donation announcement, Buffett described Gates' association with Epstein as "distasteful" while noting that he himself had made mistakes in choosing associates over the years. He emphasized that the primary driver for the change in giving was the advancing age of his children and their readiness to oversee the distribution of the remaining fortune.

The Susan Thompson Buffett Foundation, based in Omaha, has long focused on reproductive health, education and other causes. The foundations run by Buffett's children—Susie, Howard and Peter—support a range of initiatives including education, environmental work, conflict resolution and social justice. Together they have already received more than $23 billion in Berkshire shares from their father since 2006.

Buffett's overall philanthropic plan remains one of the largest in history. He has repeatedly stated his intention to give away more than 99 percent of his wealth. The midyear gifts have traditionally provided a steady flow of capital to the recipient organizations, allowing them to plan multiyear programs. Redirecting the entire 2026 allocation to the family foundations concentrates resources under the control of his children.

The decision has drawn attention because of the long and public friendship between Buffett and Gates. The two men had collaborated closely on philanthropy for years, with Buffett frequently praising the Gates Foundation's work in global health and development. Gates has separately outlined a major spending commitment of $200 billion over 20 years, with a substantial portion directed toward health and economic initiatives in Africa, including efforts to reduce maternal and infant mortality and combat infectious diseases. That plan, announced in 2025, is independent of Buffett's annual stock transfers.

For the Gates Foundation, the loss of Buffett's regular midyear contribution represents a notable change in funding flow after two decades of support. The organization has not issued a detailed public response to the specific omission in the July announcement. Foundation leadership has continued its operations and the external review of past Epstein-related contacts.

Buffett's net worth has fluctuated with Berkshire's stock performance but has consistently placed him among the world's richest individuals. By converting larger Class A shares into the more numerous Class B shares for donation purposes, he facilitates the transfer of substantial value while preserving the company's dual-class structure.

Observers note that the accelerated timeline reflects practical considerations. Susie Buffett, the eldest of the three children, will be in her early 80s by the target date of 2034. Buffett has expressed confidence in their ability to manage the remaining distribution effectively.

The July gifts maintain the overall scale of Buffett's recent annual giving, which has often totaled several billion dollars. What has changed is the destination. For the first time in 20 years, none of the midyear allocation is going to the Gates Foundation.

Buffett has long framed his philanthropy as a means of returning capital to society in a way that improves opportunities for those with fewer advantages. The latest statement reinforces that the remaining shares will ultimately support the work of the four family foundations, either through continued annual grants or final transfers by the end of 2034.

As Berkshire Hathaway continues its operations under Buffett's leadership, the philanthropic side of his legacy is entering a new phase focused more tightly on the institutions overseen by his children. The exclusion of the Gates Foundation from this year's list stands as the most visible marker of that transition to date.