Warren Buffett is accelerating his annual schedule of donating shares of Berkshire Hathaway to four family foundations, with the latest round of gifts valued at nearly $6 billion.

In an announcement released this morning, Buffett stated, "My goal is to dispose of all of my personal holdings of Berkshire stock in about eight years."

Buffett, who will turn 96 next month, currently holds a stake in Berkshire Hathaway worth over $140 billion.

Even without considering potential future increases in the share price, the planned annual donations would amount to at least $17 billion, more than double last year's $7 billion in stock gifts.

The announcement noted, "Of course, one's lifespan cannot be predicted, but in any case, all of my remaining shares will be donated to these four foundations by December 31, 2034."

Key Changes in This Year's Donations

This year's donation list notably excludes the Gates Foundation, marking a complete end to the lifelong annual giving commitment Buffett made in 2006, when he pledged to donate consistently to the foundation established by Microsoft co-founder Bill Gates and his then-wife Melinda.

Under the 2006 plan, the number of shares donated annually was to decrease by 5%. This month, he was originally scheduled to donate shares worth approximately $4.5 billion to the Gates Foundation.

Last year during the same period, Buffett donated only about $1.4 billion to the four family foundations. This indicates that the portion originally allocated for the Gates Foundation this year has been entirely redirected to the four family foundations.

Details of the Latest Donations

The Susan Thompson Buffett Foundation, named after his late first wife, received 9 million Class B shares, currently valued at about $4.5 billion.

Three foundations operated by his children each received 1 million Class B shares, with each portion valued at nearly $500 million: the Sherwood Foundation of Susie Buffett, the Howard G. Buffett Foundation, and the NoVo Foundation of Peter Buffett.

The announcement did not mention whether this year's Thanksgiving would continue the tradition of additional gifts seen over the past four years. However, given the new goal of fully divesting all holdings within eight years, it is highly likely that supplemental donations will continue. Last Thanksgiving, the additional gifts totaled approximately $1.3 billion.

Background on the Gates Foundation Pause

Earlier this month, it was reported that Buffett had paused the planned donation to the Gates Foundation pending a law firm's review of the foundation's connections to Jeffrey Epstein. The results of that review are expected this summer.

In 2006, Buffett made an irrevocable commitment to donate Berkshire Hathaway Class B shares annually to the Gates Foundation for life, as long as Bill Gates or Melinda was alive and involved in setting policy and managing the foundation.

However, his long-standing close personal friendship with Bill Gates began to fracture in 2021. Two months after Bill and Melinda announced the end of their 27-year marriage, Buffett resigned as a trustee of the Gates Foundation.

In a 2024 media interview, Buffett revealed that after revising his will, over 99% of his personal wealth would go to a charitable trust managed by his three children. He stated, "After I die, the Gates Foundation won't get a dime."

This year, the release of files related to Jeffrey Epstein, the notorious sex offender, made public details of his interactions with Gates, further straining the relationship between Buffett and Gates.

In a March interview, Buffett said, "Since this whole thing came out, I haven't spoken to Gates once. There's no point in frequent communication until this is completely sorted out."

When asked at the time if he would continue funding the Gates Foundation, Buffett replied, "I'll watch how things develop. I don't have to make a final decision today, and I haven't made one yet. Over the years, I've learned many things I was completely unaware of before."

Over the past two decades, Buffett has cumulatively donated shares to the Gates Foundation with a total value of nearly $48 billion based on the market price at the time of each donation. The cumulative number of shares donated is approximately 321 million, with a current total market value of about $159 billion. The Gates Foundation has sold the vast majority of these shares over the years to fund its operations.