Melinda French Gates says Warren Buffett's latest will 'did not surprise me'

Melinda French Gates expressed no surprise at Warren Buffett’s recent announcement regarding the disposition of his fortune after his death. In an interview with The New York Times, she stated that Buffett's decision to transfer the majority of his wealth into a charitable trust managed by his three adult children aligns with his evolving approach to philanthropy. This plan excludes any future contributions to the Gates Foundation, a major recipient of Buffett's donations over the years. Buffett, whose net worth was approximately $138.3 billion, has made substantial commitments to various charitable organizations, which he has stated will end upon his death.

In a Wall Street Journal interview, Buffett disclosed that the Gates Foundation, co-founded by Melinda and Bill Gates in 2000, will not receive any more funds posthumously. This marks a significant shift as the Gates Foundation has been a primary beneficiary of Buffett's charitable giving, having received around $43 billion from him. French Gates acknowledged Buffett’s substantial past contributions to the foundation and viewed his new plan as a natural progression in his philanthropic strategy.

Buffett’s most recent donations include over 9.93 million Berkshire Hathaway Class "B" shares to the Gates Foundation in June, alongside significant contributions to other family-related charities such as the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Despite these donations, Buffett retains a considerable stake in Berkshire Hathaway, with his shares experiencing notable growth over the past year.

Melinda French Gates, with a net worth of $11 billion, continues her philanthropic efforts independently through Pivotal Ventures, focusing on expanding women's power and influence with a pledged $2 billion. This independence underscores her commitment to addressing issues she is passionate about, separate from her work with the Gates Foundation.

For more information see Aislinn Murphy "Melinda French Gates says Warren Buffett's latest will 'did not surprise me'" Fox Business, July 29, 2024.