Warren Buffett to Donate Remaining $140 Billion Berkshire Stake to Family Foundations

Warren Buffett announced Tuesday that he will donate the remaining $140 billion in Berkshire Hathaway stock to foundations tied to his three children, Howard, Susie and Peter. Buffett told CNBC on Wednesday that the decision stems from his belief that his children are prepared to handle the distributions.

He said he currently gives roughly $6 billion a year to the Susan Thompson Buffett Foundation and the foundations run by his children, and he wants the full amount distributed by the end of 2034.

Buffett described Bill Gates' past ties to Jeffrey Epstein as "distasteful" but compared them to mistakes he himself had made in hiring or choosing friends. "No one bats a thousand in the business of choosing people," he said. Buffett added that he had read extensively since Jan.

1 about the matter, including Gates' sworn congressional testimony, and noted that Gates eventually ended the relationship. Gates flew to Omaha a few weeks ago for a several-hour conversation with Buffett. The two had spoken little since additional Epstein files emerged from the federal investigation.

Epstein was found dead in the Manhattan federal lockup in August 2019; New York City's medical examiner ruled the death a suicide. Buffett said in 2024 he planned to end donations to the Gates Foundation after his death. The foundation received more than $47 billion from Buffett since 2006 and will close in 2045 after distributing the rest of Gates' fortune.

After Buffett's death a new foundation will be created, with his children required to agree unanimously on distributions. He wants them to make those decisions while alive; his oldest daughter will be nearly 81 in eight years. Buffett also said he recently broke his leg and had surgery but is recovering well.

Buffett said he believes Greg Abel is the right successor to lead Berkshire Hathaway. Last month the company agreed to invest another $10 billion in Alphabet after previously tripling its stake.