Buffett Cuts Gates Foundation, Pledges $140B by 2034
Warren Buffett will distribute his remaining $140 billion Berkshire Hathaway stake to four family foundations by 2034, ending two decades of donations to the Bill & Melinda Gates Foundation and signaling a sharp acceleration in annual giving.
On July 14, 2026, the 95-year-old Berkshire Hathaway chairman transferred $6 billion in Class B stock to four family foundations. This initial transaction formalized a binding commitment to unload his entire remaining $140 billion to $150 billion stake by December 31, 2034.
The most significant structural shift is the total exclusion of the Bill & Melinda Gates Foundation. The charity received nearly $48 billion from Buffett since 2006, serving as the primary vehicle for his wealth distribution. Buffett cited Bill Gates' disclosed ties to Jeffrey Epstein as the reason for abruptly ending the two-decade philanthropic partnership.
The new plan replaces a previous arrangement that tasked Buffett’s three children with distributing his fortune within a decade of his death. By setting a hard 2034 deadline, the pledge will require annual donations of at least $17 billion. This pace is more than double the roughly $7 billion he distributed in 2025.
For market participants, this accelerated schedule clarifies the timeline for a long-anticipated event. Buffett currently holds 188,290 Class A shares and 1,162 Class B shares. Because the receiving foundations are mandated to spend the capital rather than hoard it, the market will eventually need to absorb a steady drip of Berkshire shares as the charities liquidate positions to fund operations.
"My goal is to dispose of all of my Berkshire shares within about eight years," Buffett said. This final $140 billion tranche completes a historic $200 billion philanthropic commitment, the largest in American history, with $60 billion already distributed.
The distribution mandate carries strict instructions on capital deployment. "My will provides that about 99.5% of my estate is destined for philanthropic usage," Buffett said. "Nothing will go to endowments; I want the money spent on current needs."
This spending requirement ensures the four family foundations will act as massive, time-limited conduits to the nonprofit sector rather than perpetual investment vehicles. "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."
