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[BUSINESS] · United States · 66 sources

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Warren Buffett accelerates Berkshire stock donations, cuts Gates Foundation

Warren Buffett announced that he will redirect roughly $6 billion of Berkshire Hathaway stock this year to four family‑run foundations – the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation – and for the first time in two decades omitted the Bill & Melinda Gates Foundation. The change follows renewed scrutiny of the Gates Foundation’s past contacts with the late Jeffrey Epstein. Buffett said, “Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or another by December 31 2034.” He plans to accelerate his pledge to give away all of his remaining Berkshire shares by the end of 2034, a shift that will increase annual charitable outflows to more than $17 billion. Since 2006 Buffett has contributed about $47‑$48 billion in Berkshire stock to the Gates Foundation; the new allocation marks the end of that long‑standing partnership. He cited his children’s readiness to manage the wealth and expressed that Gates’s Epstein ties were “distasteful,” though not the sole reason for the decision.

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