Warren Buffett Stops Funding Bill Gates Foundation

The decades-long friendship and charitable partnership between Warren Buffett and Bill Gates has come to an end. The 95-year-old head of Berkshire Hathaway has decided to redirect his annual charitable donations—worth approximately $6 billion in stock—from Gates's foundation to four family foundations run by his own children instead.

The decision followed widespread reports about Bill Gates's connections to Jeffrey Epstein. According to Buffett, after materials related to Epstein became public, he and Gates stopped communicating with each other.

Since 2006, Buffett had donated over $47 billion to Gates's foundation, but going forward, a large portion of his wealth will be distributed to family charitable organizations.

Bill Gates has expressed regret over his relationship with Epstein. According to his explanation, meetings between them concerned only charitable matters, and he did not participate in any criminal activity.

The Gates Foundation stated that they are grateful for Buffett's years of support and will continue operations as usual. The organization noted that the foundation has sufficient financial resources to continue its work until 2045.

According to Buffett's plan, after his death, his children will distribute 99.5% of his remaining wealth through a charitable fund.

Source: Investing.com