Notably, the Berkshire Hathaway chairman’s annual donations omitted the Gates Foundation, a significant shift given that Buffett donated more than $47 billion of Berkshire stock to the foundation since 2006
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Warren Buffett, the renowned billionaire investor, has described fellow magnateBill Gates’ association with the late sex offenderJeffrey Epsteinas "distasteful." However, Buffett clarified that his decision to cease donating to the Gates Foundation stemmed from his children’s readiness to manage and distribute his vast wealth.
"I tell the three children that it is theirs, and it’s their responsibility to get it done well," Buffett stated in interview excerpts broadcast on CNBC.
The comments followed the 95-year-old Berkshire Hathaway chairman’s annual midyear charitabledonations, which saw him contribute nearly $6 billion of his conglomerate’sstock.
Notably, this year’s allocation omitted the Gates Foundation, a significant shift given that Buffett donated more than $47 billion of Berkshire stock to the foundation since 2006.
Instead, his latest donation, comprising 12 million Class B shares, is directed to four foundations led by his children, Susie, Howard, and Peter.
With these contributions, Buffett has now donated over $23 billion of Berkshire stock to the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation since 2006.
Buffett confirmed that Gates, a long-time friend and former Berkshire director, visited him in Omaha three weeks prior.
This meeting occurred after the U.S. Department of Justice released files in February detailingGates' relationship with Epstein, including discussions around philanthropy.
Gates has since met with Congress regarding the financier and has repeatedlyexpressed regret for any involvementwith Epstein, though he has not been accused of any crimes.
Reflecting on the situation, Buffett remarked, "While it’s distasteful, while he made mistakes, I made mistakes in hiring all kinds of people, or choosing friends, and then finding out later that one way or another they weren’t what I thought."
