Buffett says Bill Gates' association with Epstein was 'distasteful'
What's the story
Billionaire investor Warren Buffett has expressed his disapproval of Microsoft co-founder Bill Gates' association with Jeffery Epstein, a convicted sex offender. The 95-year-old described the relationship as "distasteful" in an interview with CNBC. However, he also acknowledged that he has made similar mistakes in the past by befriending people "who weren't great."
Donation cessation
Berkshire Hathaway halts Gates Foundation donations
Buffett's company, Berkshire Hathaway, has stopped donating to Gates' charity for the first time in 20 years. Instead, the remaining stock has been transferred to foundations associated with Buffett's family.
The decision comes after Gates testified before the US Congress about his relationship with Epstein.
Buffett said he had read Gates' testimony and while he found it "distasteful," he could understand how such mistakes could happen.
Testimony details
Gates thought Epstein could help raise funds for global health
In his testimony, Gates said he met Epstein in 2011 as someone who could help raise funds for global health.
He admitted that while he was aware of Epstein's past legal troubles, he didn't know the full extent of his crimes.
Buffett said he found nothing in Gates' testimony that was beyond what he could picture himself doing.
Decision impact
Buffett assures that the foundation still holds 'very substantial resources'
Buffett said his decision to stop donations wasn't a surprise to Gates, as they had met for three hours about three weeks ago.
He admitted he has done many dumb things in life but emphasized that he and Gates have shared an "enormous number of good times together" since their meeting in 1991.
Despite halting his contributions, Buffett assured that the foundation still holds "very substantial resources."