Gates Foundation Future Uncertain as Warren Buffett Reveals Posthumous Financial Plans at Age 93

Money | June 30, 2024, 1:53 a.m.

Renowned entrepreneur and philanthropist Warren Buffett is cutting ties with the Bill & Melinda Gates Foundation, where he has donated over $39 billion in the past 15 years. Despite his $127 billion fortune, Buffett revealed in a recent interview with the Wall Street Journal that his support for the foundation will cease upon his death. Instead, his remaining wealth will be entrusted to a charitable trust managed by his three children, who will decide on future philanthropic endeavors. Buffett expressed confidence in his children's values, stating that he trusts them completely with this responsibility. This decision marks the end of a long-standing partnership between Buffett and the Gates Foundation, with CEO Mark Suzman now leading the organization following Melinda French Gates' departure. Buffett's philanthropic contributions to other nonprofits connected to his family will also come to an end with his passing, as his children will take over decision-making in his absence.