{"text":[[{"start":10.35,"text":"Warren Buffett has described Bill Gates’s relationship with Jeffrey Epstein as “distasteful” but said he could “picture” himself making a similar mistake in choosing associates."}],[{"start":21.15,"text":"In an interview with CNBC on Wednesday that came after the billionaire chair of Berkshire Hathaway excluded the Gates Foundation from his annual donation of shares, Buffett characterised the Microsoft co-founder’s friendship with the late sex offender as an error of judgment."}],[{"start":37.45,"text":"But he added: “I’ve made mistakes in hiring all kinds of people or choosing friends and then finding out later one way or another they weren’t what I thought they were.”"}],[{"start":46.650000000000006,"text":"“I found nothing in there that was beyond what I could picture myself doing,” he said."}],[{"start":51.7,"text":"Buffett’s exclusion of Gates’s non-profit foundation this week followed new revelations about the Microsoft co-founder’s ties to the deceased sex offender, which began to emerge in January through new materials disclosed in the US Department of Justice’s investigation."}],[{"start":65.45,"text":"The cache of documents has shed light on Epstein’s interactions with some of the world’s most powerful people, resulting in resignations from Wall Street to Westminster. Gates has so far weathered scrutiny of his relationship with Epstein, and remains the figurehead of his foundation. "}],[{"start":81,"text":"Buffett, who turns 96 in August, said in the interview that he had “re-evaluated my whole situation” in relation to his donations and determined that his three children, and a new foundation named in honour of his late wife, should decide how to give away his money."}],[{"start":96.5,"text":"As a former trustee, Buffett has played a crucial role in the Gates Foundation and donated more than $47bn to the organisation. "}],[{"start":105.1,"text":"Buffett did not say that Gates’s relationship with Epstein was a factor in his decision not to give to the foundation this year, but he said he had read all of the materials released in recent months about the Microsoft co-founder and Epstein. These included congressional testimony by Gates last month, which Buffett emphasised was “under oath”."}],[{"start":124.35,"text":"The move to give money only to family linked organisations this year marks the end of a commitment Buffett first made in 2006, when he vowed to make annual gifts to the Gates Foundation throughout his lifetime. "}],[{"start":137.45,"text":"Buffett suggested his decision to steer away from the foundation was because his children were ready to handle the fortune. The billionaire said that he previously did not think his children were “ready in any way to give away vast sums of money” but has since changed his mind."}],[{"start":152.2,"text":"In a statement, the Gates Foundation said it was “grateful” to Buffett for his “decades of support”. The non-profit plans to give away an additional $200bn in the coming decades, and will shut down by the end of 2045."}],[{"start":166.5,"text":"Even before the recent Epstein revelations, Buffett signalled in 2024 that upon his death, his remaining wealth would go to a foundation tied to his family."}],[{"start":177.2,"text":"He plans to hand his remaining stake in Berkshire to four family linked foundations within eight years."}],[{"start":183.1,"text":"Buffett said he had spent time with Gates in Omaha a few weeks ago, speaking for about three hours, and that they had already made plans to see each other again."}],[{"start":192.29999999999998,"text":"He added they have had “an enormous number of good times together” since meeting more than three decades ago."}],[{"start":198.2,"text":"In March, Buffett had said the pair had not spoken since “the whole thing was unveiled”, referring to the release of documents by the DoJ. Gates confirmed to a US House of Representatives committee last month that the two had not spoken since January, and said that Buffett was “looking at the press”."}],[{"start":215.54999999999998,"text":"The Berkshire chair said he had notified Gates himself of his plan not to give to the Gates Foundation this year, meaning this week’s announcement did not come as a “surprise”."}],[{"start":226.85,"text":"“I read what Congress came up with — I read everything — and all I can say is I don’t know whether I’ve done dumber things, but I’ve just done many dumb things in life,” Buffett said on Wednesday."}],[{"start":245.85,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1784163261_3965.mp3"}