The long-standing friendship between billionaires Bill Gates and Warren Buffett has seen a significant downturn in recent years.

What Happened: The friendship between Gates and Buffett, two of the world’s wealthiest individuals, has its roots in 1991. This relationship, which resulted in numerous joint ventures and philanthropic initiatives, has reportedly cooled both on a professional and personal level.

Despite initial hesitations, the two formed a strong bond and mutual mentorship. Gates even persuaded Buffett to invest in stocks of Intel and Microsoft, thereby initiating their business partnership, reports the Business Insider.

Gates became a part of Berkshire Hathaway’s board in 2004, but Buffett never reciprocated by joining Microsoft’s board or investing in the tech giant, citing their close friendship as a potential conflict of interest.

Together, they launched several philanthropic projects, including The Giving Pledge in 2010, which urges billionaires to give away the majority of their wealth to charity. So far, pledges amounting to approximately $600 billion have been made.

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However, over time, their relationship began to sour. Buffett reportedly felt that the Gates Foundation had become too bureaucratic, thereby impeding its philanthropic effectiveness. He was also reportedly disheartened by instances of Gates’ rudeness.

Buffett’s commitment to the foundation appears to have lessened following Gates’ divorce in 2021 and his subsequent resignation from the three-person board at the Bill and Melinda Gates Foundation. Notably, in his posthumous wealth distribution plans, Buffett did not mention the Gates Foundation.

While Gates used to frequently write about Buffett on his blog, his recent posts have been strictly business-oriented, further suggesting a cooling of their friendship.

Why It Matters: The Gates-Buffett friendship has been a cornerstone of several significant business and philanthropic initiatives over the past three decades.

Their recent estrangement could potentially impact future collaborations and philanthropic endeavors.

The absence of the Gates Foundation in Buffett’s wealth distribution plans also raises questions about the future direction of one of the world’s largest charitable organizations.

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