Connect with us

Business

Buffett calls Bill Gates relationship with Epstein ‘distasteful’

Published

on

Graphic representing sunshine with blue sky behind

Billionaire investor Warren Buffett has described Bill Gates’ relationship with late sex offender Jeffery Epstein as “distasteful”, but said he himself had made mistakes in life by being friends with people “who weren’t great”.

On Tuesday, Buffett’s firm Berkshire Hathaway stopped giving donations to the Microsoft co-founder’s charity for the first time in 20 years and instead handed his remaining stock to foundations linked to his family.

Buffett told CNBC he and Gates have had a “wonderful friendship” but confirmed his pivot over donations followed Gates’ testimony to US Congress about Epstein.

Gates called Buffett “a dear friend”, adding: “My gratitude to Warren is immeasurable.”

Advertisement

Gates appeared before the US House Oversight Committee in June to answer questions about his relationship with Epstein, who died in a New York prison in 2019 while awaiting trial on sex trafficking charges.

In a transcript of his testimony, Gates said that he had been introduced to Epstein in 2011 as someone who could help raise billions of dollars for global health, which is a key focus of the Gates Foundation.

He said: “I recall being aware that Epstein had faced prior legal issues, but I did not fully understand the extent of the crimes he committed.”

In 2008, Epstein had pleaded guilty to soliciting a minor for prostitution and procuring a person under age 18 for prostitution.

Advertisement

Gates told the committee: “I should never have met with Epstein in the first place. Based on what I know now, I understand that even if he had delivered the donors he promised, it would not have justified associating with him.”

Buffett said on Wednesday he had read Gates’ testimony.

He said: “While it’s distasteful, while he made mistakes, I’ve made mistakes in hiring all kinds of people, choosing friends and finding out later that one way or another they weren’t what I thought they were.

“So, I found nothing in there that was beyond what I could picture myself doing.”

Advertisement

Buffett said the decision to stop donations to the foundation did not come as a surprise to Gates. The two met around three weeks ago for three hours.

The 95-year-old said: “At some point I had read what Congress had come up with, I’d read everything and all I can say is I don’t know whether I’ve done dumber things but I’ve done many dumb things in life.”

Buffett added that he and Gates have had an “enormous number of good times together” since they met in 1991. “It has been a wonderful friendship,” he said.

Gates said: “I cherish the time we spend together. I hope we have much more of it ahead.”

Advertisement

SInce 2006, when Buffett pledged to make annual donations to the Bill and Melinda Gates Foundation, as it was then known, “throughout my lifetime”, he has given $47bn (£34.7bn) to the charity.

But even without his backing, the foundation still holds “very substantial resources”, said Buffett.

In 2025 alone, the Gates Foundation gave away $8.5bn in charitable support.

While Buffett originally pledged a lifetime commitment two decades ago, he explained that his thinking has evolved over time.

Advertisement

When he first made the pledge, Buffett noted that he did not feel his three children were ready to manage such vast sums, but he now believes they are fully capable and deeply aligned with his goals.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Touchstone Dividend Equity Fund Q2 2026 Commentary

Published

on

Touchstone Dividend Equity Fund Q4 2025 Commentary

At Touchstone Investments, we recognize that not all mutual fund companies are created equal. Our commitment to being Distinctively Active means the employment of a fully integrated and rigorous process for identifying and partnering with asset managers who sub-advise our mutual funds and advocating a robust approach to portfolio construction that either uses standalone active strategies or serves as a complement to passive strategies. That is the power of Distinctively Active.

Touchstone Funds are offered nationally through intermediaries including broker-dealers, financial planners, registered investment advisors and institutions by Touchstone Securities, Inc. For more information please call 800.638.8194 or visit www.touchstoneinvestments.com

Specialties
Touchstone Investments helps investors achieve their financial goals by providing access to a distinctive selection of institutional asset managers who are known and respected for proficiency in their specific area of expertise.

Touchstone Securities Inc. is a registered broker-dealer and member FINRA and SIPC Note: This account is not managed or monitored by Touchstone Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Touchstone Investments’s official channels.

Continue Reading

Business

School uniform swap shop ‘helps save money and tackles second hand clothes stigma’

Published

on

A close-up photograph shows a man and a woman - both with brown hair - posing together outdoors and looking toward the camera. The man wears a white hat. The backdrop is a city street with a building façade, outdoor seating and an orange scooter visible in the background.

Almost half of parents said they’re worried about the cost of school uniforms, according to research by the charity Save the Children and the Baby Bank Alliance network.

Elise, a mum of three, has just picked up a new uniform for her son Charlie.

“It’s really expensive, I’ve got three kids you’ve got to get jumpers, T-shirts, trousers, shoes, double all of them because of the washing, so it’s amazing for saving money but also I never buy anything new if I can help it because it seems such a waste when there’s pre-loved which can be handed on.”

Elise said she can always find what she needs through the scheme.

Advertisement

“You can say ‘oh I’m really looking for some jumpers in age seven to eight or has anyone got the school uniform or the PE kit that we need’ and nine times out of 10 somebody would be able to go ‘oh yeah, I have actually I was going to pass that on or do something with it’ and then we swap it over.”

Jon started the scheme at his children’s school, Ysgol Treganna in Cardiff in 2022, and still organises the swaps for the school, working with deputy head, Gareth Evans.

“At the end of each half term, myself and Tom will look at what’s left in lost and found, basically what hasn’t been reclaimed and then Tom and his group of friends will then bag everything up and take them home to Jon to add to the website,” said Evans.

Jon’s scheme isn’t just about easing the financial strain on families, it’s also about sustainability.

Advertisement

He said: “This is helping families to save both their pocket and the planet and I think that extra dimension around the environment has really captured people’s interest in this initiative.

“There are 30,000 schools within the UK, all or most will be using school uniforms in one way shape or form, so the potential is definitely there to help many more schools.

“What matters most for me is the culture change and the change in sort of instinct around second-hand school clothes so that this becomes normal practice.”

Kingsbury High School in London, which has 2,000 pupils, is involved in the scheme.

Advertisement

Tara Randall, the school’s sustainability lead, says the initiative also takes away the stigma of asking for help with clothing your child and normalises swapping school clothes.

“There’s a certain street cred that kids like to follow, especially at secondary school. But this is done in a discreet way, so there’s no stigma.

“Parents can arrange their own drop-offs, pick-ups of uniforms, and, I guess the extra benefit on top of that is that you might find parents and carers from a community or connect in that kind of way, because it can feel very remote in secondary schools.”

Some families qualify for a grant in Wales, offering up to £200 per child to cover the cost of school equipment, although it is only available to families on a low income or children in local authority care.

Advertisement

In England, from September uniforms will be limited to three items with a school logo, such as a blazer, jumper or sportswear plus a tie for secondary schools, to help parents save money.

Continue Reading

Business

Nomura Strategic Income Fund Q2 2026 Commentary

Published

on

How Equity Income Can Cushion Inflation And Create Durable Returns

Nomura Strategic Income Fund Q2 2026 Commentary

Continue Reading

Business

AXT: Our Most Obvious Sell In Small-Cap Semis

Published

on

AXT: Our Most Obvious Sell In Small-Cap Semis

AXT: Our Most Obvious Sell In Small-Cap Semis

Continue Reading

Business

Futures Set to Trade Ahead of Jobs Data, Tech Earnings

Published

on

Futures Set to Trade Ahead of Jobs Data, Tech Earnings

Futures Set to Trade Ahead of Jobs Data, Tech Earnings

Continue Reading

Business

Microsoft Among 14 Dividend Growth Companies To Annual Dividend Increases In September

Published

on

Microsoft Among 14 Dividend Growth Companies To Annual Dividend Increases In September

This article was written by

I’m an individual investor looking to grow my wealth over the long term. I’ve tried many different styles of investing over the last 25 years and have found that buying dividend growth stocks and reinvesting the dividends is one of the easiest ways to grow wealth over the long term. Over the years, I’ve owned stocks, options, ETFs, treasury notes, and mutual funds. I operate a blog, HarvestingDividends.com, that provides information on the S&P Dividend Aristocrats and other dividend growth stocks.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I may take positions in any of the stocks mentioned in this article in the near future.

Advertisement

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Continue Reading

Business

Gabelli OEF Growth Portfolio Managers Q2 2026 Insights

Published

on

Gabelli OEF Growth Portfolio Managers Q2 2026 Insights

Gabelli OEF Growth Portfolio Managers Q2 2026 Insights

Continue Reading

Business

Why My 3 Worst Picks Beat The S&P 500 In Retirement

Published

on

Why My 3 Worst Picks Beat The S&P 500 In Retirement

Why My 3 Worst Picks Beat The S&P 500 In Retirement

Continue Reading

Business

Aon close to acquiring USI Insurance from KKR in $17 billion deal, WSJ reports

Published

on


Aon close to acquiring USI Insurance from KKR in $17 billion deal, WSJ reports

Continue Reading

Business

TransDigm Group: A Premium Option For Private-Equity-Like Exposure

Published

on

TransDigm Group: A Premium Option For Private-Equity-Like Exposure

TransDigm Group: A Premium Option For Private-Equity-Like Exposure

Continue Reading

Trending

Copyright © 2025