Warren Buffett, the billionaire investor, revealed that his decision to cease contributions to the Bill and Melinda Gates Foundation was not unexpected, marking the end of a two-decade philanthropic partnership. This statement was reported by Reuters.
The 95-year-old Buffett excluded the Gates Foundation from his nearly $6 billion donation of Berkshire Hathaway shares announced on Tuesday. This decision follows recent disclosures regarding Bill Gates’ interactions with deceased convicted sex offender Jeffrey Epstein.
In snippets from an interview aired Wednesday on CNBC, Buffett discussed a recent meeting with Gates that took place three weeks prior when Gates visited Omaha. This meeting followed the U.S. Department of Justice’s release in February of documents concerning Gates’ relationship with Epstein.
Additionally, the U.S. Congress has been investigating the matter, and Gates met with members last month for a closed-door hearing. Gates has publicly expressed remorse for any association with Epstein, although he has not been accused of any crime.
Buffett Evaluated the Situation Before His Decision
Buffett noted, “I reevaluated the entire situation,” emphasizing that it was not a surprise. He stated, “I read the conclusions reached by Congress. I read everything.”
Buffett plans to continue donating Berkshire Hathaway shares to four family-run foundations managed by his children Susie, Howard, and Peter, including the recent donation of nearly $6 billion this year.
Epstein died in a Manhattan jail cell in August 2019 after being arrested on sex trafficking charges. The New York City medical examiner ruled his death a suicide.
Total Donations to Gates Foundation by Buffett
Since 2006, Buffett has donated over $47 billion in Berkshire Hathaway shares to the Gates Foundation, with last year’s donation alone amounting to $4.5 billion.
The fact that Gates maintained a cordial relationship with Epstein had been known for some time, with information emerging in the American press after Bill and Melinda Gates announced their divorce in 2021 after 27 years of marriage.
However, newly released documents from the DOJ and a U.S. congressional committee included photographs of Gates posing with women whose faces were blurred.
Gates previously stated that his connection with Epstein was limited to discussions about philanthropy and admitted that meeting with him was a mistake.
Gates Apologizes to Foundation Employees
The Wall Street Journal reported in February that Gates “took responsibility for his actions” regarding his relationship with the deceased sex offender during a town hall meeting with foundation employees.
According to the WSJ article, Gates told his philanthropic organization’s staff that spending time with Epstein was a “huge mistake” and that he misguidedly involved foundation executives in meetings with the convicted sex offender. The financial publication cited a recording of Gates’ statements during the meeting.
“I apologize to others who were drawn into this situation because of the mistake I made,” he stated.
The Journal also noted that Gates acknowledged having two extramarital relationships with women in Russia, which Epstein later discovered, although these did not involve Epstein’s victims.
