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Billionaire Warren Buffett had been bothered for years by how the Bill & Melinda Gates Foundation was being run, according to a New York Times<\/em> report<\/a> on Sunday.<\/p>\n The Berkshire Hathaway<\/a> CEO, who recently said the philanthropy will stop getting his money<\/a> after he dies, had grown to view the foundation as bloated with inflated operating costs, sources told the Times<\/em>.<\/p>\n Buffett also told staffers that the Gates Foundation had become complacent and had less appetite for risks that could boost the effectiveness of its giving, the report said.<\/p>\n The Gates Foundation didn\u2019t provide an immediate comment, and Berkshire Hathaway didn\u2019t respond to requests for comment.<\/p>\n Buffett had been a top donor to the Gates Foundation, giving more than $39 billion between 2006 and 2023. Over the years, Buffett and Bill Gates developed a close friendship. And in 2021, Buffett said his goals \u201care 100% in sync with those of the foundation.\u201d<\/p>\n The Times<\/em> noted he attached three conditions to his money: either Bill Gates or Melinda French Gates had to remain active in the foundation, Buffett\u2019s contributions had to be counted as charity versus gifts, and the value of his annual contributions had to be given away within a year, not including the 5% that\u2019s already required of philanthropies.<\/p>\n Meanwhile, Buffett had made clear to the Gates Foundation that it shouldn\u2019t count on continuing to receive his money over the long term, given that he was aging and his pledges would only encompass his lifetime, sources told the Times<\/em>.<\/p>\n According to his will, his remaining wealth will go to a charitable trust overseen by his three children, who must decide unanimously how the money will be spent. <\/p>\n In a separate interview with the\u00a0Times<\/a><\/em> last month, French Gates, who stepped down from the foundation in May, said she wasn\u2019t surprised<\/a> by Buffett\u2019s decision, adding that she was aware he was making it.<\/p>\n \u201cThe other thing that\u2019s really important to say is he has given an enormous sum through the Bill and Melinda Gates Foundation,\u201d she said. \u201cSo I think this has just been a good evolution to his thinking on how he wants to do his giving.\u201d<\/p>\n While\u00a0it\u2019s technically still possible the Gates Foundation could get more of Buffett\u2019s wealth after he dies, sources told the Times<\/em> that Buffett\u2019s children all agree that none of the remaining Berkshire Hathaway shares to be given away will go to the Gates Foundation.<\/p>\n Buffett himself was explicit about what would happen.<\/p>\n \u201cThe Gates Foundation has no money coming after my death,\u201d he told the Wall Street Journal<\/em><\/a> in June. <\/p>\n<\/div>\n\nRecommended Newsletter: <\/strong>CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about\u2013and from inside\u2013the C-suite. Subscribe Now<\/a>.<\/div>\n