Investor Warren Buffett has decided to suspend his annual donation to the Gates Foundation for the first time in nearly two decades, according to a report by The Wall Street Journal.

The decision comes as Buffett awaits the outcome of a review examining the organisation and renewed scrutiny surrounding its co-founder, Bill Gates, over his past interactions with late financier and convicted sex offender Jeffrey Epstein.

Break From Long-Standing Giving Practice

Buffett, 95, has traditionally donated shares of Berkshire Hathaway to the Gates Foundation and four charities run by members of his family around the middle of each year.

According to people familiar with the matter cited by The Wall Street Journal, Buffett is expected to reconsider the donation later this year and could address the issue in his customary Thanksgiving letter.

The pause marks a significant departure from a philanthropic programme that began in 2006 and has made the Gates Foundation the largest recipient of Buffett’s charitable giving.

Last year alone, Buffett’s contribution to the foundation was valued at more than $4.5 billion.

Since launching his philanthropic initiative, he has donated more than $47 billion worth of Berkshire Hathaway stock to the foundation.

Epstein Controversy Influences Decision

Buffett had indicated earlier this year that he was reassessing future support for the Gates Foundation following renewed public attention on Gates’s relationship with Epstein.

In a March interview with CNBC, Buffett said he had not spoken with Gates since the US Department of Justice released documents detailing multiple meetings between Gates and Epstein after Epstein’s 2008 guilty plea in a Florida prostitution case.

When asked whether he would continue making donations to the foundation, Buffett responded: “I’ll wait and see what unfolds… I’m learning things I didn’t know.”

The Gates Foundation has maintained that Epstein had no involvement in its grant-making activities and said Gates had acknowledged mistakes in meeting him.

Gates Has Defended His Actions

Gates has repeatedly stated that his interactions with Epstein were connected to discussions about philanthropy and has described those meetings as a mistake.

He has also denied spending time with victims of Epstein’s abuse and has said the relationship never extended beyond charitable discussions.

The foundation has said Gates “took responsibility for his actions” and emphasised that Epstein played no role in the organisation’s operations or funding decisions.

Buffett Says He Does Not Regret Past Donations

Despite pausing this year’s contribution, Buffett has said he does not regret the substantial donations he has already made to the foundation.

However, he acknowledged wishing that “certain things hadn’t happened” and expressed surprise at Epstein’s ability to cultivate relationships with prominent figures.

“I don’t see how anybody could have pulled that off,” Buffett said. “This guy found people’s weaknesses … It is ruining one person after another.”

Epstein was arrested in 2019 on federal sex-trafficking charges and later died in custody.

Future Wealth To Be Directed Elsewhere

Buffett has already signalled changes to his long-term philanthropic plans.

In 2024, he said that the bulk of his remaining fortune would not be transferred to the Gates Foundation after his death.

Instead, most of his wealth is expected to be placed into a charitable trust overseen by his children.

The latest decision suggests Buffett is continuing to reassess the future direction of his philanthropy as questions surrounding the Gates Foundation and its leadership remain under scrutiny.

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