For first time in 20 years, Warren Buffett delays Gates Foundation donation: Report

Billionaire investor Warren Buffett postponed his customary mid-year multibillion-dollar donation to the Gates Foundation for the first time in two decades, opting to wait for the outcome of an independent review into the foundation's past engagement with late convicted sex offender Jeffrey Epstein, The Wall Street Journal reported.

According to the report, the 95-year-old chairman of Berkshire Hathaway is delaying his annual donation until later this year, possibly when he releases his customary Thanksgiving letter.

The move marks a rare departure from Buffett's long-established philanthropic routine. Since 2006, he has donated billions of dollars' worth of Berkshire Hathaway shares every June or early July as part of a lifetime pledge to give away most of his fortune. Over the past 20 years, Buffett has contributed more than $47 billion in Berkshire stock to the Gates Foundation, making him one of the charity's largest benefactors.

More from Business

According to the Wall Street Journal, Buffett's decision is tied to an external review commissioned by the Gates Foundation to examine its historical interactions with Epstein.

Foundation review under way

The review was commissioned by Gates Foundation Chief Executive Officer Mark Suzman to assess the organisation's past engagement with Epstein. The findings are expected later this summer.

The foundation has faced renewed scrutiny following the release of emails earlier this year by the US Department of Justice that showed communications between Epstein and members of the Gates Foundation's staff.

Gates' association with Epstein under spotlight

The controversy has also renewed attention on the relationship between Bill Gates and Epstein.

Gates, 70, has not been accused of any criminal wrongdoing. However, his reputation has come under renewed pressure following the release of Justice Department files related to Epstein earlier this year.

The Microsoft co-founder has repeatedly expressed regret over meeting Epstein, saying it was a mistake. He has consistently denied spending time with victims of Epstein's sexual abuse and has said he never witnessed any criminal conduct by Epstein.

Break from Buffett's longstanding giving pattern

Buffett's annual donations to the Gates Foundation have become a hallmark of his philanthropic strategy since he announced in 2006 that he would donate the vast majority of his wealth.

His gifts, typically made in Berkshire Hathaway shares during June or early July, have helped fund the Gates Foundation's global work in public health, education and poverty reduction.

The reported delay does not necessarily signal a permanent change in Buffett's commitment to philanthropy or the Gates Foundation. According to the Wall Street Journal, he is expected to revisit the decision after the independent review is completed, with a final determination possibly coming alongside his Thanksgiving letter later this year.

With inputs from agencies.