Warren Buffett has described Bill Gates’ connection with the late sex offender Jeffrey Epstein as “distasteful.” This statement follows Buffett’s decision to exclude the Gates Foundation from his significant annual charity donations. Speaking to CNBC’s Becky Quick, Buffett acknowledged the mistakes both he and Gates have made in choosing their friends. Despite these issues, he found nothing in Gates’ situation that he could not see himself doing.
Buffett, who has known Gates for over thirty years, confirmed he carefully considered Gates’ relationship with Epstein before changing his charitable donations. At 95, he has decided to direct his contributions this year to four family-related foundations instead. For many years, the Gates Foundation was the main recipient of his donations. Since 2006, Buffett has donated more than $47 billion in Berkshire Hathaway stock to the organisation created by Gates and his ex-wife, Melinda.
Buffett stated that he and Gates have stayed in touch, having spent a few hours together recently in Omaha. Gates plans to call Buffett again for another meeting.
In terms of his estate, Buffett aims to give greater responsibility to his three children. He believes they are now ready to manage wealth effectively. Buffett intends to give away all his Berkshire shares within about eight years, as he feels his children are “unfortunately growing older.” This year, he will donate 9 million Class B shares, valued at approximately £4.5 billion, to the Susan Thompson Buffett Foundation and share millions with each of his children’s foundations. Additionally, he is recovering well after having surgery for a broken leg.
