Warren Buffett has criticized Bill Gates’ relationship with the late sex offender Jeffrey Epstein as “disgusting” after Berkshire Hathaway’s chairman excluded the Gates Foundation from his huge annual charitable giving.
“I’ve read quite a bit since January 1st in terms of what happened with Bill and Epstein,” Buffett said in an interview with CNBC’s Becky Quick. “As unpleasant as it is, while he made mistakes, I also made mistakes, hiring all kinds of people and choosing friends, only to find out later that in some way they weren’t what I thought they were. I didn’t find anything in there that was beyond what I could imagine doing.”
Buffett, who has been friends with Gates for more than 30 years, said he thoroughly reviewed information about Gates’ relationship with Epstein before deciding to review his philanthropy. Buffett, 95, has directed all of his donations this year to four family-related foundations.
For many years, the Gates Foundation was the largest recipient of his annual gifts to Berkshire. Since 2006, Buffett has donated more than $47 billion worth of Berkshire stock to a charity founded by Microsoft co-founder and ex-wife Melinda Gates.
Buffett said he remains in contact with Gates and recently spent several hours together in Omaha.
“He came to Omaha three weeks ago. I lose track of time, but it’s certainly not three months. We talked for three hours together,” Buffett said. “He’s going to call me…he’s already suggested another meeting.”
In the hands of Buffett’s children
The Oracle of Omaha said his estate plan should place greater responsibility in the hands of his three children. He said he has spent decades gradually preparing for the role.
“I reevaluated my entire situation,” Buffett said. “What happened was that I gave a huge amount of money to the Gates Foundation. I thought it was a good decision. I think it was a decent decision, but I never thought that my children were ready to donate a huge amount of money.”
“I tell my three kids that it’s theirs and it’s their responsibility to make it work,” he said.
Buffett said in a statement earlier this week that his goal is to liquidate all of his Berkshire shares within about eight years because his children are “unfortunately getting older.”
This year, Buffett will donate 9 million Class B shares, currently worth about $4.5 billion, to the Susan Thompson Buffett Foundation, named after his late first wife. Three foundations run by Buffett’s children, Susie Buffett’s Sherwood Foundation, Howard G. Buffett Foundation and Peter Buffett’s Novo Foundation, will each acquire 1 million Class B shares worth just under $500 million.
Buffett also said he recently underwent surgery after breaking his foot a few weeks ago and is recovering well.
