OMAHA, Neb. — Billionaire Warren Buffett announced on Wednesday, July 15, 2026, that he will no longer donate to the Gates Foundation after his death, instead entrusting his nearly $140 billion Berkshire Hathaway fortune to foundations associated with his family and his three children: Howard, Susie, and Peter.

Buffett told CNBC that while Bill Gates’ association with convicted sex offender Jeffrey Epstein was “distasteful,” his decision was primarily based on his belief that his children are prepared to manage the distribution of his wealth. He noted, “No one bats a thousand in the business of choosing people,” reflecting on mistakes he and Gates have made in personal associations.

Buffett also mentioned that Gates was not surprised by the decision. The two have had limited communication since details about Gates’ Epstein connections emerged through federal investigation files.

In a statement, the Gates Foundation acknowledged Buffett’s unprecedented support, totaling nearly $50 billion over the past two decades, which has contributed to saving millions of lives.

Buffett revealed he wants his Berkshire shares to be distributed sooner than previously planned, aiming for completion by the end of 2034. He emphasized the importance of his children making these decisions while still capable, noting his oldest daughter will be nearly 81 in eight years.

Sources