Warren Buffett is ending his annual stock donations to the Bill & Melinda Gates Foundation for the first time in about two decades, while redirecting roughly US$6 billion in Berkshire Hathaway shares to foundations linked to his family. Multiple outlets report that Buffett will convert 8,000 Class A shares into 12 million Class B shares before distributing the shares among four organisations: the Susan Thompson Buffett Foundation will receive 9 million Class B shares, and the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation will each receive 1 million shares. Buffett’s statement sets a deadline of December 31, 2034, for donating all remaining Berkshire shares.

Sources say the Gates Foundation has previously received more than US$47 billion in Berkshire stock since 2006. The change comes amid renewed public attention to Bill Gates’ past associations with convicted sex offender Jeffrey Epstein and an external review by the Gates Foundation of its prior engagements. Some reporting also notes that Buffett previously said he has not spoken with Gates since the controversy emerged. Buffett’s announcement does not explicitly mention Epstein or explain the decision to exclude the Gates Foundation.