Buffett Ends Two-Decade Gates Foundation Partnership

American billionaire Warren Buffett has omitted the Gates Foundation from his annual charitable donations for the first time, ending a philanthropic partnership that lasted nearly two decades. Instead, he is donating Berkshire Hathaway shares worth approximately $6bn to four family foundations run by his children.

Buffett, 95, did not give a reason for the change. However, the decision follows the release by the US Department of Justice of documents relating to the late sex offender Jeffrey Epstein, which included information about Microsoft co-founder Bill Gates’s contacts with him. Gates has not been charged with any crime and has repeatedly expressed regret over the relationship.

Since 2006, Buffett has donated Berkshire Hathaway shares worth more than $47bn to the Gates Foundation. The organization said it was grateful for his long-standing support and remained financially stable, partly because of Bill Gates’s pledge to contribute $200bn to its operations before its planned closure in 2045.

Buffett also announced that he intends to donate all his remaining assets to the four family foundations by the end of 2034.

(Reuters, Lud)