Buffett Halts Donation to Gates Foundation Pending Epstein Case Investigation

(Taipei, June 30, 2024, CNA Foreign News Service) -- In a move that marks the first time in 20 years that the renowned investor Warren Buffett has paused his mid-year regular donation to the Gates Foundation, sources familiar with the matter revealed that the delay is due to his awaiting the outcome of an investigation into the foundation's ties with the late sex offender Jeffrey Epstein.

Sources indicated that Buffett, 95, will postpone his decision until the end of this year, possibly until after he releases his Thanksgiving letter.

The chairman of Berkshire Hathaway typically donates billions of dollars worth of Berkshire shares in June or early July each year, as part of a "lifetime" commitment he made when forging a close relationship with the Gates Foundation.

The Gates Foundation has hired WilmerHale to investigate its interactions with Epstein, with the findings expected to be released this summer.

Sources said that Buffett and his close associates have been in contact with the foundation's leadership to gain a further understanding of the Epstein case's connections and the progress of the investigation.

Buffett declined to comment. A representative for the Gates Foundation did not immediately respond to a request for comment from The Wall Street Journal (WSJ).

Buffett has donated approximately $48 billion to the foundation between 2006 and 2025, typically transferring Berkshire shares in mid-year.

Buffett resigned as a trustee of the foundation in 2021, following the announcement of the divorce between Bill and Melinda Gates. In 2024, he told The Wall Street Journal that the Gates Foundation would no longer receive any of his funds after his death.

In the same year, Bill Gates' then-wife, Melinda French Gates, left the foundation she co-founded to focus on her own philanthropic goals.

Sources indicated that regardless of Buffett's decision, his annual donations to his family's foundations are not expected to be affected, including those managed by his three children and the Susan Thompson Buffett Foundation, named after his first wife.

Buffett's relationship with his long-time friend Bill Gates has become strained following the U.S. Department of Justice's release of documents related to the Epstein case.

In an interview with U.S. financial news outlet CNBC in March, Buffett stated that he had not spoken with Bill Gates since the release of the Epstein case documents. He said he wanted to wait until he learned more from the Epstein case documents before making a decision on his annual donation by the end of June.

According to congressional hearing records, Bill Gates told lawmakers during questioning by the House Oversight Committee in mid-June that his last conversation with Buffett was in January of this year, before the release of the Epstein case documents.

Bill Gates, 70, said, "We talked about my health challenges and some other things."

The Wall Street Journal previously reported that Bill Gates did not attend Berkshire Hathaway's annual shareholder meeting in early May; Bill Gates served on the company's board until 2020. Although he was not prohibited from attending, it was understood that he was advised not to. This marked his first absence in many years.

Sources revealed that Bill Gates' team was also informed that he would not be able to sit in the reserved area for Buffett, Berkshire directors, and other business leaders such as Apple CEO Tim Cook. (Compiled by Li Pei-shan) 06/30/2024

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