Buffett to liquidate $140bn Berkshire stake by 2034, ends Gates gifts
Warren Buffett will accelerate the disposal of his $140 billion Berkshire Hathaway stake over the next eight years, creating a massive annual overhang for the stock while permanently cutting off the Gates Foundation.
Warren Buffett is distributing almost $6 billion in Berkshire Hathaway Class B shares to four family foundations and setting a strict deadline to unload his entire controlling stake. The Berkshire chief executive, who turns 96 next month, stated his goal is to "dispose of all of my Berkshire shares within about eight years."
Buffett currently holds Berkshire stock worth more than $140 billion. Distributing that entire sum by December 31, 2034, requires annual share gifts of at least $17 billion, assuming no stock price appreciation. This represents more than double the $7 billion donated last year, guaranteeing a massive, predictable overhang of shares entering the open market as the foundations liquidate the stock to fund operations.
"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 announcement also formally severs Buffett's financial relationship with the Gates Foundation. By redirecting a scheduled $4.5 billion payment to his family charities, Buffett has ended a 2006 "lifetime pledge" that channeled nearly $48 billion to the charity over two decades.
The split follows reported friction between Buffett and Microsoft co-founder Bill Gates. The Wall Street Journal reported earlier this month that Buffett paused this month's Gates donation pending a law firm's review of the charity's ties to Jeffrey Epstein. In March, Buffett told CNBC he had not spoken to Gates "at all since the whole thing was unveiled" and added, "I've learned things I didn't know about something for all these years."
The accelerated timeline aligns with a broader overhaul of Buffett's estate plan. In 2024, Buffett told the Journal that "The Gates Foundation has no money coming after my death." He revised his will to place over 99% of his wealth into a charitable trust managed by his three children.
In this latest round, the Susan Thompson Buffett Foundation received 9 million Class B shares valued at roughly $4.5 billion. The Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation each received 1 million shares worth just under $500 million.
