Warren Buffett, chairman of Berkshire Hathaway, stated Wednesday that he viewed Bill Gates’ past relationship with Jeffrey Epstein as "distasteful." Despite this assessment, Buffett told CNBC that he has also made mistakes in choosing friends and that the issue has not ended his "wonderful friendship" with the Microsoft co-founder. The remarks follow Buffett's recent decision to redirect his multibillion-dollar charitable contributions from the Bill & Melinda Gates Foundation to foundations controlled by his own children.
The shift in funding occurred after Mr. Gates testified before the U.S. House Oversight Committee in June regarding his ties to Epstein. During that testimony, Gates expressed regret for meeting with Epstein, stating he had hoped the financier would help secure billions for global health initiatives. Gates acknowledged he was aware Epstein had faced legal issues but said he did not fully understand the severity of the crimes at the time.
Buffett noted that the change in his donation strategy was not a surprise to Gates, as the two met recently to discuss the matter. Buffett explained that his decision to stop the 20-year streak of donations to the Gates Foundation was also based on his belief that his children are now prepared to manage his assets. Since 2006, Buffett has donated approximately $47 billion to the Gates Foundation. Mr. Gates responded by describing Buffett as a "dear friend" and expressed immeasurable gratitude for his long-term support.