Warren Buffett to Donate $6 Billion in Berkshire Hathaway Shares to Family Foundations

Warren Buffett announced Tuesday that he will donate $6 billion in Berkshire Hathaway shares this year to the Susan Thompson Buffett Foundation and foundations controlled by his three children. The gifts will go to the Susan Thompson Buffett Foundation and to entities run by Howard Buffett, Susie Buffett, and Peter Buffett.

Buffett told CNBC that he had read extensively since January 1 about Bill Gates' relationship with Jeffrey Epstein, including Gates' sworn congressional testimony. He described the relationship as "distasteful" and said Gates ended it. Buffett stated that Gates flew to Omaha several weeks ago for a several-hour conversation.

The two men 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 he plans to end donations to the Gates Foundation after his death. The foundation has received more than $47 billion from Buffett since 2006.

Buffett said people make errors in choosing associates. "No one bats a thousand in the business of choosing people," he said. He currently gives roughly $6 billion a year to his family foundations and wants the full amount distributed by the end of 2034. After his death, a new foundation will be created, with his children required to agree unanimously on distributions.

Buffett recently broke his leg and had surgery but said he is recovering well. He also reaffirmed that he believes Greg Abel is the right successor to lead Berkshire Hathaway. Last month Berkshire Hathaway agreed to invest another $10 billion in Alphabet after previously tripling its stake.