Warren Buffett Snubs Bill Gates Foundation, Plans to Offload Entire $140 Billion Berkshire Stake by 2034
Warren Buffett has shifted his philanthropic strategy for the first time in 20 years, choosing to donate his remaining $140 billion Berkshire Hathaway stake to foundations run by his children rather than the Bill Gates Foundation. This change is attributed to Buffett distancing himself from Bill Gates amid the Epstein scandal. The multi-year process is expected to conclude by 2034, unless Buffett passes away sooner. The article notes that Buffett's children, now controlling the foundations, could potentially push Berkshire Hathaway to start paying dividends to support their philanthropic efforts, a significant shift from Buffett's long-standing reinvestment policy. The move could impact Berkshire's corporate governance and dividend policy, drawing parallels to the Hormel and Hershey foundations.
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