Warren Buffett warned that his support of the Bill & Melinda Gates Foundation could end with him

In an interview with the Wall Street Journal, The 93-year-old philanthropist said his will does not explicitly provide for any further donations to the organization after his death. So far, there have been no concrete indications as to what might happen to his assets in the event of his passing.

“The Gates Foundation will not receive any money after my death,” said Buffett, whose longtime business partner at Berkshire Hathaway, Charlie Munger, died late last year at the age of 99.

Buffett announced that all of his remaining wealth – currently around $127 billion – that he has not given away by then will be bequeathed to a charitable foundation managed by his three children, Howard, Susie and Peter.

While this does not preclude future donations to the Gates Foundation, Buffett said they would have to unanimously decide how his billions should be spent after his death.

“I feel very, very comfortable with the values ​​of my three children,” he told the Diary, “and I have 100 percent confidence in the way they will implement things.”

Buffett, whose will will be made public after his death, outlined a plan for dealing with his assets for the first time in November and appointed the three as executors and trustees.

“In 2006 they were not fully prepared for this enormous responsibility, now they are,” he said at the time.

His daughter and two sons told the newspaper that they had no concrete plans yet as to how the money would be spent. Not only would this depend on tax legislation and social developments, but it was also too early for that.

“I imagine it will probably be a continuation of what we have been doing,” said Susie Buffett.

The Gates Foundation did not respond to a request for comment from Assets for a statement.

Second blow against the Gates Foundation

Led by CEO Mark Suzman, the charity has paid out nearly $78 billion in grants since its inception. Its goals include fighting poverty around the world and eradicating malaria, a disease that claims over 600,000 lives each year.

Buffett is one of the foundation’s most generous supporters, having donated since he joined as a trustee in 2006. Buffett resigned in 2021, the same year Melinda French Gates announced her intention to divorce the Microsoft co-founder.

On Friday, Berkshire Hathaway said in a statement that the Omaha-based company would donate an additional 9.9 million shares of its Class B stock, valued at $4 billion, to the foundation, effective immediately.

The news is the second blow in recent times for Suzman and the foundation, after Melinda French Gates resigned in May to devote herself to the fight against the restrictions on women’s rights in the United States and around the world.

“Warren Buffett has been extremely generous with donations and advice to the Gates Foundation for over 18 years,” Suzman told Diary. “He has played an invaluable role in advancing and shaping the Foundation’s work to create a world in which everyone can live healthy, productive lives.”

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