Berkshire Hathaway CEO Warren Buffett has warned that his financial support to the Bill & Melinda Gates Foundation may be cut off once he's gone.
"The Gates Foundation has no money coming after my death," the 93-year-old billionaire said in an interview with The Wall Street Journal. Buffett has reportedly donated more than $39 billion over 15 years to the foundation.
Berkshire Hathaway CEO Warren Buffett Wealth After Death
Warren Buffett said in the interview that he did not include any more specific donations to the Bill & Melinda Gates Foundation after his death.
He noted that the remaining portion of his fortune, estimated to be over $127 billion, will be transferred to a charity trust managed by his three children, Howard, Susie, and Peter. Buffett expressed full confidence in his three children and their abilities to handle situations.
"I feel very, very good about the values of my three children... And I have 100% trust in how they will carry things out," he told WSJ.
Buffett's children seemed to have not yet ruled out the possibility of future donations to the Bill & Melinda Gates Foundation.
His daughter and two sons told WSJ that they have yet to reach a consensus on how the money would be spent after their father's passing, not only due to tax regulations and societal developments but also because it was still premature.
However, Susie said they might continue doing what they are doing, which includes donating to foundations. According to Fortune, Buffet's will becomes public after his death. In November, he named the three executors and trustees as he gave a preview of his will.
Setback for the Bill & Melinda Gates Foundation
The Bill & Melinda Gates Foundation, headed by CEO Mark Suzman, has distributed about $78 billion in awards since its inception. Two of its primary purposes are fighting global poverty and eliminating malaria to end the annual death toll of 600,000 people from the disease.
Warren Buffett has been a strong supporter of the Gates Foundation ever since he became a trustee in 2006. In 2021, the same year that Melinda Gates revealed her decision to divorce Bill Gates, Buffett left the foundation's board.
According to Suzman, Buffett has been extremely generous to the Gates Foundation for over 18 years with donations and counsel. He said Buffett's vision and guidance have been instrumental in advancing the foundation's mission to ensure that all people have the opportunity to lead fulfilling lives free from illness and disability.
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