In his statement, Buffett expressed that he aims for all his remaining Berkshire Hathaway stock, valued at nearly $146 billion, to be donated to charity by the end of 2034. The previous plan involved his three children distributing his remaining wealth within 10 years after the 95-year-old investor’s passing.
“Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or another by December 31, 2034,” Buffett stated. “The objective is for the grants to increase annually to each of the three foundations managed by my children, while the annual grant to the Susan Thompson Buffett Foundation will grow at a somewhat higher rate.”
Buffett and the Gates Foundation did not respond immediately on Tuesday. CNBC reported that Buffett is set to provide the channel with an exclusive interview on this topic on Wednesday morning.
Since announcing his intention to give away his fortune in 2006, the majority of Buffett’s charitable contributions — exceeding $61 billion — have been directed to the Gates Foundation. He has routinely transferred blocks of Berkshire Hathaway stock to the Gates Foundation and the four foundations managed by his three kids.
Gates has denied any awareness of Epstein’s crimes and has not faced any accusations of wrongdoing. He mentioned that he only met with Epstein under the impression it might assist him in fundraising for charitable purposes.
Epstein, charged with sexually abusing numerous underage girls, was found dead in the Manhattan federal facility in August 2019, with his death later ruled a suicide by New York City’s medical examiner.
Buffett had already indicated in 2024 that he intended to halt donations to the Gates Foundation after his death, allowing his three children to decide how to allocate the remainder of his fortune. The decision announced on Tuesday will expedite that plan.
Buffett and Gates were once very close friends, frequently communicating, playing bridge online, and vacationing together. Gates served on the board of Buffett’s conglomerate for many years, while Buffett was a member of the board of the Gates Foundation. However, Buffett mentioned to CNBC in March that he hadn’t spoken to Gates for several months, prior to the release of the Epstein documents in the fall of 2025.
In the past, Buffett defended Gates. Three years ago, he cut off a man presenting a resolution at the Berkshire Hathaway shareholder meeting after the individual questioned Gates’ integrity due to his association with Epstein. Peter Flaherty was arrested that day for trespassing, despite prior approval for his presentation. The charges were later dismissed, but the incident led to a lawsuit that is still pending in the courts.
Buffett shared with CNBC, “It is astonishing to me that anyone could be such a successful con man,” but acknowledged that Epstein managed to take advantage of others’ vulnerabilities. While Buffett refrained from discussing Gates’ involvement, he stated that he does not want to be associated with anything that could be investigated later.
Gates recently addressed his associations with Epstein with his foundation’s staff. Gates appears multiple times in the Justice Department’s release of documents relevant to its investigation of the late financier. These include email exchanges regarding philanthropic projects, calendar entries detailing their meetings, and photographs from events they both attended.
The foundation announced in March the hiring of someone to evaluate its previous engagement with Epstein and to review its vetting policies for future philanthropic collaborations. Gates and the foundation’s board are anticipating an update on that investigation this summer.
Buffett remarked to CNBC about the numerous affluent and influential individuals entangled in the Epstein scandal.
“Here you had a man who was a convicted criminal, an extraordinary con artist, and the percentage of people he manipulated was significant,” Buffett commented. “He exploited their weaknesses, whether it was sex, power, or some other factor. I’m amazed anyone could have pulled that off.”
Buffett expressed relief that Epstein never came to Omaha, where he has resided for over six decades. Widely regarded as one of the greatest investors globally, Buffett built Berkshire by acquiring insurance companies like Geico, major utilities, manufacturers, and renowned brands like Dairy Queen and the BNSF railroad.
Buffett resigned as CEO of Berkshire in January after leading the company for 60 years, but he continues to serve as chairman and remains the largest shareholder. Greg Abel has now taken over as CEO of Berkshire Hathaway.
