Gates Foundation reviewing Jeffrey Epstein ties, will slash staff: WSJ
CNBC • • business
Key Points:
- The Gates Foundation has initiated an external review of its past connections with Jeffrey Epstein, following reports of Bill Gates' association with the convicted sex offender.
- To reduce expenses, the foundation plans to cut up to 500 jobs, approximately 20% of its workforce, by 2030 and cap operating expenses at $1.25 billion, down from a 2026 budget of about $9 billion.
- Bill Gates is scheduled to testify before the House Oversight and Government Reform Committee on June 10 regarding his ties to Epstein, amid previous admissions of personal misconduct and apologies to foundation staff.
- Epstein, who died by suicide in 2019 while awaiting trial on child sex trafficking charges, had been a controversial figure in Gates' circle since their friendship began in 2011.
- Warren Buffett, a major donor to the Gates Foundation, has distanced himself from Gates following revelations about Epstein-related communications, expressing reluctance to be involved in related investigations.
