Warren Buffett accelerates $140 billion charitable giveaway, cuts Gates Foundation

Billionaire investor Warren Buffett told CNBC that he will donate his entire $140 billion Berkshire Hathaway stake by the end of 2034. To meet that goal he plans to raise annual charitable outlays from roughly $6 billion to more than $17 billion, directing the money to the Susan Thompson Buffett Foundation and three family‑run foundations (Sherwood, Howard G. Buffett and Novo) overseen by his three children.

Buffett also announced he will no longer give to the Bill & Melinda Gates Foundation. While he described Bill Gates’ past association with convicted sex offender Jeffrey Epstein as “distasteful,” he said the decision was driven mainly by his confidence that his children are ready to manage the distribution of his fortune. He noted that “no one bats a thousand in the business of choosing people.”

The change could affect the share‑support dynamics for Berkshire’s successor Greg Abel, as the family’s voting stake will be liquidated faster. Buffett added that he recently broke his leg and is recovering well.