Warren Buffett has ended two decades of donations to Bill Gates’ charity, describing the Microsoft co‑founder’s relationship with the late sex offender Jeffrey Epstein as “distasteful”.
Berkshire Hathaway, Buffett’s firm, handed its remaining stock to foundations linked to Gates’ family instead of the Bill and Melinda Gates Foundation – the first time it has stopped giving in 20 years. Buffett told CNBC the decision followed Gates’ testimony to the US House Oversight Committee in June, where Gates answered questions about his ties to Epstein.
“Buffett calls Gates’ Epstein ties ‘distasteful’ as Berkshire Hathaway halts two decades of charity donations.”
Epstein died in a New York prison in 2019 while awaiting trial on sex trafficking charges. In a transcript of his testimony, Gates said he had been introduced to Epstein in 2011 as someone who could help raise billions for global health. “I recall being aware that Epstein had faced prior legal issues, but I did not fully understand the extent of the crimes he committed,” Gates told the committee. Epstein pleaded guilty in 2008 to soliciting a minor for prostitution and procuring a person under 18.
Gates added: “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.”
Buffett, 95, said he had read the testimony. “While it’s distasteful, while he made mistakes, I’ve made mistakes in hiring all kinds of people, choosing friends and finding out later that one way or another they weren’t what I thought they were,” he said. “At some point I had read what Congress had come up with, I’d read everything and all I can say is I don’t know whether I’ve done dumber things but I’ve done many dumb things in life.”
Despite the rift over donations, both men spoke warmly of their friendship. “It has been a wonderful friendship,” Buffett said. They met around three weeks ago for three hours, and Buffett said the decision to stop donations did not come as a surprise to Gates. Since meeting in 1991, they have shared “an enormous number of good times together”.
Gates called Buffett “a dear friend” and said: “My gratitude to Warren is immeasurable. I cherish the time we spend together. I hope we have much more of it ahead.”
The move brings an end to a remarkable philanthropic partnership that began in 2006 when Buffett pledged to donate the bulk of his fortune to the Gates Foundation during his lifetime. The shift in donations signals a recalibration of one of the world’s most famous charitable alliances.