Warren Buffett is skipping his usual mid-year multibillion-dollar donation to the Gates Foundation for the first time in two decades. The decision comes as he waits for the findings of a review into the organization's ties to the late sex offender Jeffrey Epstein.
The foundation has been mired in controversy due to Chairman Bill Gates' association with Epstein. A release of emails in January by the U.S. Justice Department showed communication between Epstein and the foundation's staff. CEO Mark Suzman commissioned an external review to assess past foundation engagement with Epstein, and the findings are expected this summer.
Buffett, the 95-year-old chairman of Berkshire Hathaway, has donated more than $47 billion of the conglomerate's stock to the foundation over the last twenty years. He is expected to delay a decision on his lifetime pledge until later in the year, possibly until the release of his Thanksgiving letter.
Bill Gates, 70, has seen his reputation tarnished following the Justice Department's release of files about Epstein. While Gates has not been accused of any crimes, he has repeatedly expressed regret for his association with Epstein. He has denied spending time with victims of Epstein's sexual abuse and stated that he never witnessed criminal conduct.