Buffett plans to donate $150B Berkshire stake by 2034, omits Gates Foundation

Warren Buffett plans to donate all of his remaining Berkshire Hathaway shares worth nearly $150 billion to four family foundations by Dec. 31, 2034.

"My goal is to dispose of all of my Berkshire shares within about eight years," Buffett, 95, said in a statement Tuesday.

The Berkshire Hathaway chairman will donate 12 million Class B shares this year — 9 million to the Susan Thompson Buffett Foundation and 1 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation. The gift is roughly equal to the $6 billion in shares he donated last summer.

The decision marks the first time in two decades that Buffett omitted the Bill & Melinda Gates Foundation from his annual donations, following disclosures of Bill Gates' ties to convicted sex offender Jeffrey Epstein. Buffett told CNBC in March he had not spoken with Gates since the Epstein files were released in the fall of 2025.

Since 2006, Buffett has donated more than $61 billion worth of Berkshire stock to the Gates Foundation, making it the largest recipient of his philanthropy. This year's donations instead flow entirely to foundations linked to his family, with the Susan Thompson Buffett Foundation — named after his late first wife — receiving about $4.5 billion in stock and each of his three children's foundations receiving about $500 million.

Buffett still holds 188,290 Class A shares and 1,162 Class B shares. He previously planned for his three children to distribute his fortune within 10 years of his death. The new timeline accelerates that process, with Buffett saying his children, now in their late 60s and early 70s, should be able to disburse the shares by the end of 2034.

"Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034," Buffett said.

The Gates Foundation hired an outside assessor in March to review its past engagement with Epstein and update its vetting policies for philanthropic partnerships. Gates has denied any knowledge of Epstein's crimes and has not been accused of wrongdoing.

Buffett stepped down as Berkshire chief executive officer at the end of 2025 after 60 years at the helm. Greg Abel succeeded him as CEO, while Buffett remains chairman and the largest shareholder.

The accelerated donation timeline means Buffett's roughly $150 billion stake will be fully distributed during his lifetime rather than after his death, removing a key overhang for Berkshire investors who had long anticipated a gradual posthumous unwinding. Investors will watch Buffett's exclusive CNBC interview Wednesday for further details on the transition.

This article is for informational purposes only and does not constitute investment advice.