Melinda Gates Not Surprised By Warren Buffett's New Will To Form Charity Trust Headed By His Children, Calls It A 'Good Evolution Of His Thinking'

Melinda French Gates shared her thoughts on the latest developments in the philanthropic world, particularly the decision of Warren Buffett to create a trust managed by his children.

What Happened: French Gates expressed her views on Buffett’s recent decision to allocate the majority of his remaining wealth to a new charitable trust, to be overseen by his children, in an interview with The New York Times. This move will divert funds away from the Gates Foundation, which has been a significant beneficiary of Buffett’s philanthropy.

When asked if she was surprised by this decision, French Gates responded, “No, this decision did not surprise me. It's been a decision that I think he's been coming to over time, and I was aware that he was making this decision.”

She also noted that Buffett has made a significant contribution to the Gates Foundation over the years and sees this as a positive evolution in his philanthropic thinking. “So I think this has just been a good evolution to his thinking on how he wants to do his giving,” she stated.

See Also: Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch – Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?

Buffett, who has been donating a portion of his wealth to the Gates Foundation and other organizations since 2006, has decided to change the distribution of his wealth after his death. His children will be responsible for deciding which philanthropies will receive the remaining fortune.

French Gates also commented on the philanthropic efforts of other prominent figures, such as Elon Musk and Jack Dorsey, stating that while they use their voices and platforms, they have not been very philanthropic yet.

Why It Matters: French Gates’ comments come in the wake of her recent departure from the Bill & Melinda Gates Foundation. In May, she announced her resignation as co-chair to pursue her philanthropic endeavors. She expressed pride in the foundation’s work and her commitment to addressing global inequalities.

In June, French Gates publicly endorsed President Joe Biden for the upcoming 2024 election, emphasizing her stance on women’s reproductive rights following the Supreme Court’s decision to overturn Roe v. Wade.

Shortly after, Elon Musk criticized French Gates’ political activities, suggesting that her support for Biden could negatively impact Western civilization. Musk’s remarks highlighted the ongoing political tensions surrounding high-profile philanthropists.

She stated she could not support a candidate who rolls back women’s rights. Shortly after Biden’s withdrawal, French Gates announced her endorsement of Vice President Kamala Harris.

Read Next:

• Trump Says Bitcoin Will ‘Skyrocket Like Never Before’ If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1

Image via MidJourney

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote