This article was originally published on Crafting Your Home. A human contributor also wrote and edited the post.
OMAHA, Nebraska — Warren Buffett said Wednesday, July 15, 2026, that his three children will oversee the donation of his remaining fortune, ending the Gates Foundation’s role as a future recipient of his charitable giving.
The 95-year-old Berkshire Hathaway chairman plans to distribute the remaining shares of his company by December 31, 2034. A regulatory filing released Wednesday confirmed that Buffett had transferred 12 million Berkshire Class B shares to four foundations connected to his family.
Buffett’s remaining Berkshire holdings are valued at about $140 billion. Meeting his new deadline could require annual donations of more than $17 billion, nearly three times the roughly $6 billion he currently gives each year.
Buffett says his children are prepared.
Buffett had previously questioned whether his children would have enough time to distribute such a large fortune. Their work leading separate foundations appears to have changed his assessment. In 2024, Buffett said the Gates Foundation would stop receiving his donations after his death. His children would then determine how the remainder of his wealth should be distributed.
The new plan accelerates that transition. Buffett now wants his Berkshire shares donated while his children remain able to oversee the process personally.
Their ages helped shape the December 2034 deadline. Susie Buffett, the oldest of the three siblings, will be nearly 81 in eight years. Buffett has also outlined a structure for any shares left after his death. A new charitable foundation would receive them, and all three children would have to agree unanimously before approving donations.
Four foundations receive Berkshire stock.
Buffett converted Berkshire Class A shares into 12 million Class B shares before completing the latest donation. The Susan Thompson Buffett Foundation received nine million shares. The Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation each received one million shares.
The company detailed transfers made on Tuesday, July 14, 2026. The Susan Thompson Buffett Foundation received the largest portion and could quickly become one of the world’s biggest charitable organizations.
The foundation is named for Buffett’s late wife. It supports college scholarships and other charitable programs, while the three foundations led by his children pursue separate priorities.
Buffett also traditionally makes additional contributions to the family foundations around Thanksgiving. Those gifts could further increase the amount distributed before the end of 2034.
Buffett addresses Gates’ Epstein ties.
Buffett said Bill Gates’ past association with convicted sex offender Jeffrey Epstein was “distasteful.” However, he rejected the idea that the relationship was the main reason for changing his charitable plans. Buffett said he had read extensively about the Gates-Epstein relationship since January 1, 2026. He reviewed Gates’ sworn remarks to Congress and the questioning that followed.
“No one bats a thousand in the business of choosing people,” Buffett told CNBC. He compared Gates’ judgment to mistakes he had made while choosing employees, business associates and friends. Buffett also noted that Gates eventually ended his contact with Epstein.
Gates has said he met with Epstein because he believed the financier might help raise money for charitable causes. He has maintained that he did not know about Epstein’s continuing crimes. Epstein was accused of sexually abusing dozens of underage girls. He was found dead in a Manhattan federal jail in August 2019, and New York City’s medical examiner ruled his death a suicide.
Buffett said Gates was not surprised by the revised donation plan. Gates had flown to Omaha several weeks earlier and spent hours speaking with him. The two had spoken less frequently before that meeting. Additional information about Gates and Epstein emerged as the federal government released files connected to the investigation.
Gates Foundation keeps a substantial endowment.
Gates praised Buffett as a close friend and one of history’s leading philanthropists. He said Buffett’s support helped the foundation save millions of lives. The end of Buffett’s future donations removes a major source of funding but does not leave the organization without substantial reserves.
The Gates Foundation’s endowment was worth nearly $90 billion at the end of 2025. Gates has also promised to donate nearly all his remaining fortune to the organization.
Faster giving reduces Buffett’s control.
The accelerated donations will also affect Berkshire Hathaway’s ownership structure. Buffett currently holds 188,290 Class A shares and controls nearly 30% of the company’s voting power. Every charitable transfer reduces that influence.
The foundations may sell Berkshire shares to fund their programs. Those sales could disperse the company’s ownership more quickly than investors previously expected. That shift could affect Greg Abel, Buffett’s chosen successor. Abel may have less time to lead Berkshire, with the Buffett family serving as its dominant shareholder.
If you like what you just read, then subscribe to our newsletter and follow us on social media.
