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Warren Buffett excludes Gates Foundation from his annual donations of Berkshire stock
Fox Business • • business
Key Points:
- Warren Buffett announced he will stop donating to the Gates Foundation after two decades of partnership, instead focusing his philanthropy on four family foundations run by his children.
- The decision follows recent scrutiny of Bill Gates' interactions with late sex offender Jeffrey Epstein, although Buffett stated he found nothing beyond what he could imagine himself doing.
- Buffett has donated over $47 billion in Berkshire Hathaway stock to the Gates Foundation since 2006 but is now accelerating the distribution of his remaining shares to his children, aiming to complete this by 2034.
- He emphasized the importance of timely wealth distribution due to his children's ages and his own desire to maintain mental clarity, stating that the responsibility now lies with his children.
- Buffett's recent donations to the family foundations have surpassed $23 billion in Berkshire stock, marking a shift in his philanthropic strategy.
