Buffett says his children are ready to distribute his fortune, calls Bill Gates' Epstein ties 'distasteful'

Warren Buffett announced on July 15, 2026, that his children are prepared to manage the distribution of his vast fortune, marking a shift in his long-standing approach to philanthropy. The billionaire, known for his decades-long contributions to the Bill & Melinda Gates Foundation, stated during an interview with CNBC that he would no longer donate to the foundation due to his children growing up and being ready to take charge of his wealth. This decision comes amid public scrutiny over Bill Gates’ past associations with the late sex offender Jeffrey Epstein. Buffett, 95, revealed that he had stopped contributing to the Gates Foundation in his recent midyear charitable donations, opting instead to direct his assets toward four foundations managed by his children, Susie, Howard, and Peter Buffett. His latest contribution included 12 million Class B shares valued at nearly $6 billion, bringing his total donations to these foundations since 2006 to over $23 billion. These foundations include the Susan Thompson Buffett Foundation, the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation. Buffett acknowledged the controversy surrounding Bill Gates’ relationship with Epstein, calling it “distasteful.” However, he emphasized that Gates, a longtime friend and former Berkshire Hathaway director, had made mistakes, just as he himself had in selecting associates. Despite this, Buffett maintained that his relationship with Gates remained positive, describing it as “a wonderful friendship” filled with many good memories. Gates, who has expressed regret over his involvement with Epstein, faced scrutiny from U.S. authorities and congressional inquiries, though he has not been charged with any crimes. Buffett’s remarks came shortly after he met with Gates in Omaha, Nebraska, three weeks earlier. This meeting occurred following the release of documents by the U.S. Department of Justice detailing Gates’ interactions with Epstein, including efforts to leverage philanthropy for personal gain. While Buffett criticized Gates’ actions, he did not express regret over their friendship or his previous donations to the Gates Foundation. In addition to shifting his philanthropic focus, Buffett also accelerated his plan to distribute his remaining Berkshire Hathaway shares. Originally intended to be distributed 10 years after his death, the timeline has been shortened to the end of 2034. This change reflects Buffett’s concern over his children’s aging, particularly noting that Susie Buffett, the eldest, will turn 81 by that time. He described the adjustment as a reevaluation of his overall strategy, emphasizing the importance of maintaining control over his legacy. Buffett used the phrase “keeping your marbles” to underscore his reasoning behind the changes. The term, often used metaphorically to describe preserving mental clarity and independence, highlights his desire to ensure his children can make decisions aligned with his values without external pressures. This move underscores a broader trend among ultra-high-net-worth individuals to transition wealth management responsibilities to family members as they age.