Warren Buffett pulls $6 billion in Gates Foundation funding amid renewed Epstein scrutiny

Warren Buffett pulls billion in Gates Foundation funding amid renewed Epstein scrutiny

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Warren Buffett has ended nearly two decades of donations to the Bill & Melinda Gates Foundation, redirecting about $6 billion in Berkshire Hathaway stock to four family foundations instead.

The Berkshire Hathaway chairman announced Tuesday that 12 million Class B shares would go to foundations run by his daughter, Susie, and sons, Howard and Peter, as part of his annual midyear charitable giving.

Buffett, 95, made no mention of the Gates Foundation in his announcement. The decision comes months after renewed scrutiny of Microsoft co-founder Bill Gates over his past relationship with convicted sex offender Jeffrey Epstein.

Warren Buffett with Microsoft founder Bill Gates at the International Omaha Jumping Grand Prix at the CenturyLink Center in Omaha, Nebraska, on April 1 2017 (Ed Zurga/EPA)

Buffett did not explain why the Gates Foundation was omitted from this year’s gifts, and neither Berkshire Hathaway nor the Gates Foundation immediately responded to requests for comment.

Since 2006, Buffett has donated more than $47 billion in Berkshire stock to the Gates Foundation after making what he described as an “irrevocable pledge” to give away his fortune during his lifetime. His donation to the foundation alone exceeded $4.5 billion last year.

“Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by Dec. 31, 2034,” Buffett said in a statement outlining his long-term giving plans.

A digital billboard, paid for by The Lincoln Project Advocacy, shows images of President Donald Trump (L) and late convicted sex offender Jeffrey Epstein in Times Square (AFP/Getty)

Gates has faced renewed public scrutiny since the Justice Department released documents earlier this year detailing Epstein’s contacts with prominent figures. The records included photographs of Gates with Epstein and emails involving Epstein and Gates Foundation staff.

Gates told Congress in June that he “did not fully understand the extent” of Epstein’s crimes when the two met to discuss potential philanthropic projects. Gates has not been accused of any crime and has repeatedly said he regrets meeting Epstein, denying he ever spent time with Epstein’s abuse victims or witnessed any criminal conduct.

Buffett has now donated more than half of his Berkshire holdings since launching his philanthropic campaign in 2006. Before Tuesday’s gifts, he owned nearly 14% of the company, with Forbes estimating his net worth at about $147 billion.

An image of Bill Gates with Andrew was in Epstein’s personal collection, according to documents (US House Oversight Committee)

The latest donations include 9 million Berkshire Class B shares to the Susan Thompson Buffett Foundation and 1 million shares each to the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation.

Buffett said the annual grants will continue to grow, with the Susan Thompson Buffett Foundation receiving the largest increases. The foundation, named after his late first wife and led by his daughter, supports reproductive health initiatives.

The Sherwood Foundation backs Nebraska nonprofits and early childhood education, while the Howard G. Buffett Foundation focuses on global hunger, conflict mitigation and human trafficking. The NoVo Foundation supports programs for marginalized girls and women, as well as Indigenous communities.

For more: Elrisala website and for social networking, you can follow us on Facebook
Source of information and images “independent”“