Warren Buffett, who has donated over $39 billion to the Bill & Melinda Gates Foundation over 15 years, has warned that his financial support may end with his passing. In an interview with the Wall Street Journal, the 93-year-old philanthropist clarified that his will does not include explicit future donations to the organization, stating, “The Gates Foundation has no money coming after my death.”
Buffett’s remaining wealth, currently around $127 billion, will be entrusted to a charitable trust overseen by his three children: Howard, Susie, and Peter. While future donations to the Gates Foundation are not ruled out, they will depend on unanimous decisions made by his children.
“I feel very, very good about the values of my three children,” Buffett said, expressing full trust in their future charitable decisions. His will, which becomes public upon his death, names his children as executors and trustees.
Buffett’s children have not yet made concrete plans for the funds, citing the need to consider future tax laws and societal developments. “I can imagine it will be probably some continuation of what we’ve been doing,” Susie Buffett said.
The Gates Foundation has not responded to a request for comment from Fortune. The foundation, run by CEO Mark Suzman, has disbursed nearly $78 billion in grants, supporting causes like combating global poverty and eradicating malaria.
Buffett’s recent announcement marks a significant blow to the foundation, following Melinda French Gates’ resignation in May to focus on women’s rights. Despite stepping down as a trustee in 2021, Buffett remains a significant donor. Berkshire Hathaway announced a further donation of 9.9 million shares of its class B stock, worth $4 billion, to the foundation.
“Warren Buffett has been exceedingly generous to the Gates Foundation through more than 18 years of contributions and advice,” Suzman told the Journal, highlighting Buffett’s invaluable role in the foundation’s mission.
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