Warren Buffett will no longer donate to the Bill & Melinda Gates Foundation, instead pledging his remaining $138 billion in Berkshire Hathaway shares to four family-run charities by 2034. Buffett announced he will distribute 12 million Class B shares worth roughly $5.9 billion to the Susan Thompson Buffett Foundation and three foundations led by his children. He has already given $47 billion to the Gates Foundation since 2006, but the relationship soured after Bill Gates's ties to Jeffrey Epstein came to light. The Gates Foundation said it is grateful for Buffett's past support and remains financially strong with Bill Gates's $200 billion commitment. Legal experts note that while a promise to make a future gift is not typically binding, the foundation could potentially argue detrimental reliance on Buffett's earlier pledge.
Berkshire Hathaway IncBuffett pledges $138B in Berkshire shares to family charities, but no change in company operations or shareholder value.