Warren Buffett has publicly described Bill Gates' association with convicted sex offender Jeffrey Epstein as 'distasteful,' while acknowledging his own past mistakes in friendships. The 95-year-old Berkshire Hathaway CEO made the comments on Wednesday, shortly after his firm stopped donations to the Gates Foundation for the first time in two decades, redirecting his remaining stock to family-linked foundations.
Buffett's Candid Assessment
Buffett told CNBC that he and Gates have shared a 'wonderful friendship' since meeting in 1991, but the recent donation shift followed Gates' June testimony before the US House Oversight Committee about his Epstein ties. 'While it's distasteful, while he made mistakes, I've made mistakes in hiring all kinds of people, choosing friends and finding out later that one way or another they weren't what I thought they were,' Buffett said. He added that he found nothing in Gates' testimony that he could not imagine doing himself.
Gates' Testimony and Regret
In his committee testimony, Gates said he was introduced to Epstein in 2011 as a potential fundraiser for global health initiatives. Gates stated he was aware Epstein had prior legal issues but did not fully grasp the extent of his crimes. Epstein had pleaded guilty in 2008 to soliciting a minor for prostitution. Gates told the committee he should never have met with Epstein, asserting that even if Epstein had delivered promised donors, it would not have justified the association.
Evolving Philanthropy Strategy
Since 2006, Buffett has donated approximately $47 billion to the Gates Foundation under a lifetime pledge. However, his thinking has evolved; he now believes his three children are fully capable of managing his wealth and align with his philanthropic goals. The foundation still holds 'very substantial resources,' Buffett noted, and gave away $8.5 billion in charitable support in 2025 alone. Gates called Buffett 'a dear friend' and said his gratitude is immeasurable. The two met for three hours about three weeks ago, and Buffett confirmed the donation change did not surprise Gates.