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What is the story about?
For the first time in almost 20 years, Warren Buffett has decided not to make his usual midyear donation to the Gates Foundation. According to a report by The Wall Street Journal, the billionaire investor is waiting for the outcome of an external review looking into the foundation's past links with late convicted sex offender Jeffrey Epstein before making a decision.
People familiar with Buffett's plans told the news outlet that the 95-year-old Berkshire Hathaway chairman is likely to revisit the donation later this year, possibly when he releases his traditional Thanksgiving letter.
Buffett has usually donated billions of dollars' worth of Berkshire Hathaway shares to the Gates Foundation every June or early July as part of the lifetime giving pledge he made nearly two decades ago.
Why Buffett is waiting
The review was commissioned by Gates Foundation CEO Mark Suzman and is being carried out by law firm WilmerHale. It is examining the foundation's past engagement with Epstein, and the findings are expected later this summer.
The report also mentioned that Buffett and people close to him have been in touch with foundation leaders, including Suzman, to better understand the review and the foundation's past connections to Epstein.
According to Reuters, Buffett has donated more than $47 billion worth of Berkshire Hathaway stock to the Gates Foundation over the past two decades, making it the biggest recipient of his charitable giving.
Questions around Bill Gates' past association
The Gates Foundation has faced renewed attention because of Bill Gates' past association with Epstein. Reuters reported that emails released by the US Department of Justice earlier this year showed communication between Epstein and members of the Gates Foundation's staff.
Bill Gates has not been accused of any crime. He has repeatedly said he regrets meeting Epstein and has maintained that those meetings were related to philanthropy. He has also denied spending time with victims of Epstein's sexual abuse and said he never witnessed criminal conduct by Epstein.
Last year alone, Buffett's donation to the Gates Foundation was reportedly worth more than $4.5 billion. However, as things stand, this year's contribution will remain on hold until the review is completed.
People familiar with Buffett's plans told the news outlet that the 95-year-old Berkshire Hathaway chairman is likely to revisit the donation later this year, possibly when he releases his traditional Thanksgiving letter.
Buffett has usually donated billions of dollars' worth of Berkshire Hathaway shares to the Gates Foundation every June or early July as part of the lifetime giving pledge he made nearly two decades ago.
Why Buffett is waiting
The review was commissioned by Gates Foundation CEO Mark Suzman and is being carried out by law firm WilmerHale. It is examining the foundation's past engagement with Epstein, and the findings are expected later this summer.
The report also mentioned that Buffett and people close to him have been in touch with foundation leaders, including Suzman, to better understand the review and the foundation's past connections to Epstein.
According to Reuters, Buffett has donated more than $47 billion worth of Berkshire Hathaway stock to the Gates Foundation over the past two decades, making it the biggest recipient of his charitable giving.
Questions around Bill Gates' past association
The Gates Foundation has faced renewed attention because of Bill Gates' past association with Epstein. Reuters reported that emails released by the US Department of Justice earlier this year showed communication between Epstein and members of the Gates Foundation's staff.
Bill Gates has not been accused of any crime. He has repeatedly said he regrets meeting Epstein and has maintained that those meetings were related to philanthropy. He has also denied spending time with victims of Epstein's sexual abuse and said he never witnessed criminal conduct by Epstein.
Last year alone, Buffett's donation to the Gates Foundation was reportedly worth more than $4.5 billion. However, as things stand, this year's contribution will remain on hold until the review is completed.
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