Warren Buffett has again postponed his customary multi-billion dollar mid-year gift to the Gates Foundation, with the decision now expected later in the year, potentially by Thanksgiving. This marks a significant shift as Buffett has historically announced these donations in June or early July. The postponement is explicitly linked to an ongoing external review by the law firm WilmerHale into the Gates Foundation's past engagement with convicted sex offender Jeffrey Epstein, as reported by the Wall Street Journal.
This delay puts additional pressure on the Gates Foundation, which traditionally relies heavily on Buffett's contributions. Since 2006, Buffett has given nearly $48 billion to the foundation, with annual donations peaking at almost $4.6 billion in 2025. His funds have historically accounted for approximately 40% of the foundation's spending over two decades. The foundation has acknowledged its past interactions with Epstein, stating a small number of employees engaged with him on claims he could mobilize philanthropic resources, but ultimately no collaboration or financial payments occurred.
Adding to the uncertainty, Buffett reversed a previous commitment two years ago to leave his remaining shares, then valued at over $80 billion, to the Gates Foundation upon his death. Instead, he now plans for all his remaining assets, estimated by Forbes at $147 billion, to go into a charitable trust overseen by his three children, who are instructed to disburse the funds within 10 years of his death. This move, coupled with the current delay, has led the Gates Foundation to prepare for a future without Buffett's support, evidenced by its plans to sunset operations by 2045 and cut 500 jobs by 2030.
Bill Gates, whose past meetings with Epstein were a factor in his divorce from Melinda Gates and are under renewed scrutiny, has indicated he will make additional personal gifts to cover the foundation's spending needs. The Gates Foundation's trust endowment stood at $89 billion at the end of 2025. Buffett himself has distanced himself from Bill Gates, reportedly not speaking with him since the release of Epstein files. The external review commissioned in April, with the support of Bill Gates and the foundation's board, aims to assess past engagement with Epstein and vetting policies for new partnerships. Buffett's net worth before his most recent $6 billion donation was $152 billion, making him the world's fifth-richest person according to Forbes.
