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Warren Buffett stops Berkshire donations to Gates Foundation
Buffett, 95, said he will dispose of remaining Berkshire Hathaway stock over eight years, with the shares going to four Buffett family foundations by Dec. 31, 2034.
Billionaire investor Warren Buffett has stopped donating Berkshire Hathaway stock to the Bill and Melinda Gates Foundation, according to BBC Business. The change comes weeks after Bill Gates detailed his connections to the late Jeffrey Epstein, a case that resurfaced after US Department of Justice files were released in January.
Buffett had previously committed, in 2006, to give shares of Berkshire Hathaway to the Gates Foundation each year “throughout” his lifetime. BBC Business reports that the Gates Foundation was removed from the list of firms set to receive stock, and the shares will instead be split among four foundations involving Buffett family members.
In a statement, the 95 year old said he will dispose of his remaining Berkshire stock over the next eight years, with the donations allocated to the four Buffett family foundations by Dec. 31, 2034. BBC Business notes Buffett did not name Gates or Epstein in his remarks about the donations.
The shift reflects wider scrutiny around Gates and Epstein. BBC Business adds that Gates testified in June before the US House Oversight Committee that he was introduced to Epstein in 2011 on the premise of raising billions for global health, and that he believed he should never have met Epstein once he understood the extent of the crimes.