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NEW YORK (AP) — The writer E. Jean Carroll has collected over $5.6 million that a jury awarded in her sexual abuse and defamation lawsuit against President Donald Trump, court records and her lawyers said.

The payment — representing the $5 million jury award, plus interest — was made Monday from an account where it had been held in escrow since the 2023 verdict, according to court records. Carroll’s lawyer, Roberta Kaplan, confirmed the payment Tuesday.

“We are pleased to report that she has received the damages payment,” Kaplan said in a statement.

Trump’s lawyers have vowed to continue appealing.

Trump deposited the money in an escrow account shortly after the jury ruled against him. The U.S. Supreme Court recently let the civil verdict stand, clearing the way for Judge Lewis A. Kaplan to release the money.

Trump’s lawyers then sought but were denied an emergency order to block the payment. The one-sentence denial set no conditions on how Carroll may use the money. Her lawyers have said in court papers that she plans to put it in a retirement account.

Trump’s attorneys have since filed another appeal seeking to stop or reverse the payment.

The jury found Trump attacked Carroll in 1996 in a New York luxury department store dressing room and defamed her after she told the story publicly in a memoir in 2019, during his first term as president.

Trump insisted nothing sexual happened between him and Carroll, now 82, a former advice columnist. Trump claimed she was “totally lying” and “ not my type ” in a 2019 interview. He said he didn’t know her, dismissing a 1987 photo of them and their then-spouses at a party as inconsequential, and he accused her of harboring political motives and trying to sell books at his expense.

Trump didn’t attend the trial, where Carroll testified that their flirtatious and friendly chance encounter at the department store turned violent.

Carroll sued Trump after New York changed its laws to give sexual abuse survivors a fresh chance to sue over attacks that happened in the distant past.

Trump is also appealing $83 million in defamation compensation granted to Carroll by a separate Manhattan jury after a 2024 trial where Trump briefly testified.

The Associated Press generally does not identify people who say they have been sexually abused. Carroll has agreed to be named.

WASHINGTON (AP) — U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also slowed more than expected.

Consumer prices dropped 0.4% from May to June, the largest monthly drop in four years, the Labor Department said Tuesday, after rising 0.5% in the previous month. On a yearly basis, inflation declined to 3.5%, down from a year-over-year gain of 4.2% in May and lower than many economists expected.

Excluding the food and energy categories, core prices were unchanged from May to June, a positive sign that underlying inflation is declining. On a yearly basis, core prices rose just 2.6%, down from 2.9% the previous month. Core inflation remains above the Federal Reserve’s target of 2%.

The core figures suggest that the gas price spike from the Iran war, while it pushed up airfares and some other costs, hasn’t so far led to broad-based, sustained inflation, economists said.

“This reading is very much in the camp that the inflation we’ve had this year is transitory,” said Michael Metcalfe, head of macro strategy at State Street Markets. “Yes, gas prices went up, but nothing else did, more or less.”

Yet oil prices rose for a second day Tuesday as the United States renewed attacks on Iran and President Donald Trump announced a new blockade in the Strait of Hormuz, a key shipping route for about one-fifth of the world’s oil. The increase threatens to undo at least some of the progress that occurred last month.

And many Americans have soured on the economy after five years of elevated inflation, posing a risk to Trump and Republicans in the upcoming midterm elections.

For his part, Trump on Tuesday blamed his predecessor, Democrat Joe Biden, for the rate of inflation having spiked to athree-year high just last month.

“It’s not my fault,” he said. “We are putting it to sleep. … Inflation is way down.”

“Remember that for the midterms,” he added.

Yet inflation has risen since Trump’s inauguration last year, to 3.5% from 3% in January 2025. It jumped even further after the Iran war began Feb. 28, when it was just 2.4%

Benign report could make Fed rate hike less likely

Tuesday’s report likely reduces pressure on the Fed to boost its short-term interest rate to combat inflation. Last month, Fed officials left their key rate unchanged at about 3.6%.

“Today’s report gave some breathing room for the Federal Reserve in deciding whether and when to raise interest rates,” Kathy Bostjancic, chief economist at Nationwide Financial, said.

Fed Chair Kevin Warsh, in written testimony to the House Financial Services Committee, said Tuesday that the Fed has “no tolerance” for high inflation which he pledged would become “a thing of the past.” Yet he provided no hints about what steps the Fed may take in coming months. Warsh will face questions later Tuesday from members of Congress.

More goods and services saw slower price gains than expected

A wider range of prices cooled last month than economists had forecast. Electricity prices, which have been elevated by spiking demand from data centers, fell 1% from May to June, though they are still 4% higher than a year ago. Clothing prices dropped 0.6% from May to June but are 3.9% more expensive than a year earlier.

Groceries rose 0.2% from May to June and are up 2.7% from last year, while apartment rental costs cooled, rising just 0.1% last month and 2.8% from a year ago.

The inflation-fighters at the Fed remain sharply divided over next steps, according to minutes of their June 16-17 meeting. About half of policymakers support raising interest rates by the end of the year to cool borrowing, spending, and price increases, the minutes showed. Another half are willing to wait for signs that inflation may resume falling as gas prices decline, though the minutes predate the recent flare-up of violence in the Middle East.

And the situation in the Middle East continues to change hour to hour. On Tuesday, the price for a barrel of Brent crude oil, the international standard, climbed 4.6% to $87.13 after the United States and Iran each said the Strait of Hormuz is under its control. Gas prices have also risen about 6 cents a gallon in the past week, to a nationwide average of $3.86 a gallon.

“Today’s number is a very good reading, but so much is going to depend on what happens in the Middle East,” Bostjancic said.

Next steps

Many Fed officials have flagged massive investments in the build out of artificial intelligence infrastructure as a factor that could worsen inflation by pushing up prices for memory chips and other semiconductors, as well as electricity. With chips so much more expensive, companies like Apple, Microsoft, and Dell have announced price increases for laptops, tablets, and video game consoles.

Other Fed officials have offered conflicting views on what steps the Fed could take next. On Monday, Fed governor Christopher Waller said he was worried about core inflation, which he noted had risen from 3% last December to 3.4% in May, according to the Fed’s preferred measure. He pointed out that the cost of more than two-thirds of services have risen by 3% or more compared with a year ago.

“If we get another hot reading on core inflation this week, then the (Fed) will need to consider tightening monetary policy in the near term,” Waller said in a speech in New York.

But last week John Williams, president of the Federal Reserve Bank of New York, said that if core inflation stays at a 0.2% monthly pace for the rest of this year, the Fed could avoid hiking rates. Tuesday’s data is along the lines of what Williams wants to see.

Other signs of where prices are headed are mixed. The Federal Reserve Bank of New York said last week that a survey found that nearly half the companies in its region that have paid tariffs still plan to lift their prices further.

Separately, Walmart last week said it was rolling back prices on thousands of items, including ground beef, potato chips, toys, and clothes. Trump praised the move on social media and sought to take credit for the reduction, though the company did not mention Trump in its announcement.

NEW YORK (AP) — Palestinian activist Mahmoud Khalil is suing the federal government and several private groups, alleging they were part of a conspiracy to suppress criticism of Israel through a coordinated campaign to dox, jail and ultimately deport student activists.

The civil rights suit, filed in federal court Tuesday, names the Heritage Foundation, a conservative think tank, as the architect of what it describes as an ongoing conspiracy to silence members of the pro-Palestinian movement by smearing them as antisemites.

Those efforts were aided by Canary Mission and Betar, two pro-Israel groups that maintain online lists of Israel’s critics, often alongside unsubstantiated claims that they are affiliated with Hamas, according to the lawsuit.

Activists placed on those lists “were nearly automatically targeted by the Federal Defendants for arrest and removal,” the suit claims, adding that the “process of nomination to punishment was frictionless.”

Lawyers for Khalil argue this “public-private partnership” could violate the Ku Klux Klan Act, a Reconstruction-era law that sought to restrict government coordination with vigilante groups.

The suit, led by the Center for Constitutional Rights, seeks unspecified damages and a judicial order to end the alleged conspiracy.

Inquiries to the Heritage Foundation, Canary Mission and Betar were not immediately returned on Tuesday.

Abigail Jackson, a White House spokesperson, did not comment on the lawsuit, but said in an email that the executive branch “has the lawful authority to take actions that will protect the public and to ensure the integrity of our immigration system.”

The suit comes as Khalil’s deportation case appears headed to the U.S. Supreme Court.

At a news conference on Tuesday, Khalil described the purpose of the latest filing as “exposing the network of organizations, particular actors and institutions that work together to criminalize solidarity with Palestine and to make an example of those who refuse to stay silent.”

“If constitutional protections can be cast aside under political pressure today, they can be cast aside tomorrow against anyone,” he added.

A former graduate student at Columbia University, Khalil gained prominence as a spokesperson and leader for student activists protesting against Israel and its actions in Gaza.

He was arrested in March 2025 by U.S. Immigration and Customs Enforcement agents in his campus apartment and quickly became the face of the Trump administration crackdown on pro-Palestinian demonstrators.

Khalil then spent 104 days in a Louisiana immigration jail, missing the birth of his first child, before a federal judge in New Jersey ordered his release.

Soon after his arrest, both Canary Mission and Betar boasted of their role in flagging Khalil’s noncitizen status to the government.

Betar — an Israeli company that claimed to use facial recognition software to identify masked protesters — also claimed it had compiled a longer list of names and given it to the Trump administration. The group has since agreed to dissolve its nonprofit status, following a lawsuit filed by New York Attorney General Letitia James accusing its members of harassing Palestinians.

Khalil’s lawsuit traces the origins of the alleged conspiracy to a blueprint from the Heritage Foundation, entitled “Project Esther,” which called for the expulsion of noncitizens who joined protests against Israel.

The report also suggested, without evidence, that participants in those protests should be seen as part of a “highly organized, global Hamas Support Network.”

In May, as the Trump administration ramped up its crackdown on pro-Palestinian activists, one of the report’s authors, Robert Greenway, appeared to acknowledge the foundation’s influence, saying that it was “no coincidence that we called for a series of actions to take place privately and publicly, and they are now happening,” according to the suit.

Greenway, a former adviser to Trump, did not reply to a request for comment.

Khalil, meanwhile, has forcefully denied that his criticism of Israel amounts to antisemitism. While government officials — along with Canary Mission and Betar — have linked him to Hamas, they have offered no evidence to support the claim.

“My beliefs are not wanting my tax money or tuition going toward investments in weapons manufacturers for a genocide,” Khalil previously told The Associated Press. “It’s as simple as that.”

Weeks after the end of a historic term, Supreme Court Justices Elena Kagan and Amy Coney Barrett are making a rare appearance before Congress, and facing wide-ranging questions as the high court seeks millions of dollars to beef up security amid a rise in threats to the judiciary.

Down the street, U.S. President Donald Trump welcomed new Iraqi Prime Minister Ali al-Zaidi to the White House after strongly backing the political novice’s bid for office. Iraq has been under pressure to disarm Iran-backed militias that attacked U.S. bases and diplomatic facilities after the U.S. and Israel instigated the Iran war. The U.S. launched more strikes on Iran early Tuesday after Trump vowed to blockade Iranian ports and charge 20% of their cargo for ships transiting the Strait of Hormuz.

And in Maine, protesters are raising unanswered questions about the ninth fatal shooting by Immigration and Customs Enforcement agents since Trump’s immigration crackdown began.

The Latest:

How does the court decide emergency appeals?

The relatively quick process of deciding emergency docket cases centers on whether the petitioner will eventually win, and how they could be legally harmed if the court doesn’t step in, Barrett said.

The justices declined to talk about specific cases, including suits where the court sided with the Trump administration and allowed cuts to the federal workforce to proceed.

The court often begins by considering the case from the petitioner’s point of view, Barrett said, though Kagan pointed out the court can also consider how the other side might be affected if the court intervenes.

Supreme Court justices address rise in ‘shadow docket’ appeals

Kagan and Barrett address the rise in appeals on the Supreme Court’s emergency docket.

While the court can’t control how many are filed, Kagan points out that some high-profile decisions may have encouraged attorneys to file more appeals. Those appeals are decided without full briefing or arguments, Kagan said, and “we should consider those downsides.”

Iraqi PM arrives for White House meeting with Trump

Trump was waiting outside the entrance to the West Wing to greet the prime minister when he arrived. They shook hands and exchanged small talk before entering the White House with their arms around each other’s backs.

“Love Iraq,” Trump replied to a reporter’s question about his message to the people of Iraq.

The leaked Dobbs opinion’s shadow on the Supreme Court’s security concerns

Kagan said threats against the Supreme Court increased after the leak of a draft of the opinion that later overturned the Roe v. Wade abortion decision, and have continued to grow since then.

In 2022, shortly after the leak, a would-be assassin was arrested near the home of Justice Brett Kavanaugh with weapons and zip ties. Chief Justice John Roberts has condemned the threats to all U.S. judges, saying during a speech in March that criticism of judicial opinions is understandable, but personally directed hostility is “dangerous, and it’s got to stop.”

Supreme Court justices testify before Congress on increasing security funding in rare appearance

Supreme Court Justice Amy Coney Barrett said Tuesday that a sharp increase in threats targeting her and other justices has increasingly encroached on their personal and family lives.

During a rare appearance before Congress, Barrett said she had to wear a bulletproof vest home a few years ago, something she struggled to explain to her 12-year-old son.

“I didn’t expect that performing this service would put me in the position of explaining to my children what a bulletproof vest was, why I had to wear one,” she said. The hearing marks the first time justices have testified before Congress since 2019.

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Warsh vows to crush inflation but offers no hint on the Fed’s next move

Federal Reserve Chair Kevin Warsh’s written testimony to Congress says the Fed will make high inflation “a thing of the past,” but provides no signal about the central bank’s next steps.

Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh will say when he testifies Tuesday before a House committee. “And we share a resolute commitment to restoring price stability.”

Yet about half of the 19 members of the Fed’s interest rate-setting committee expect they will have to raise the central bank’s key rate by the end of the year to defeat inflation, while nearly half have penciled in no change or even a rate cut. Warsh faces a stiff challenge in reconciling the divided committee while navigating a rapidly-changing economic outlook.

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Lindsey Graham’s sister prepares for her Senate swearing-in

Senate Majority Leader John Thune said Lindsey Graham’s sister, Darline Graham, will be sworn in Tuesday afternoon as his temporary replacement after his unexpected death over the weekend, and will serve out the rest of his term ending in January.

Graham earned a master’s degree in rehabilitation counseling and has worked as an optician and at various state agencies. She’ll be the first woman to represent South Carolina in the Senate.

“It is such an honor,” she said, as dozens of Graham staffers and campaign advisers stood behind her during a statehouse news conference. “Lindsey has always been there for me. And now, I will be there for him.”

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Trump to welcome Iraq’s new prime minister to the White House

Al-Zaidi has been under pressure to disarm a network of Iran-backed militias operating in the country, some of which launched attacks on U.S. bases and diplomatic facilities after the U.S. and Israel launched their war against Iran.

Trump is scheduled to greet the Iraqi leader Zaidi at 11 a.m., followed by an Oval Office meeting.

Renad Mansour, director of the Iraq Initiative at the Chatham House think tank, expects that “the U.S. will put significant pressure on al-Zaidi” to move ahead with disarmament “and Zaidi will respond by saying, ‘But I need support — intelligence support, technical support, armed support.’”

“There is a scenario in which, if the Iraqi government starts going after these groups, they will also go after the government,” Mansour said. “And this is a scenario that I think that the Iraqi government is apprehensive about.”

‘Dangerous.’ ‘Brazen.’ ‘Unprecedented.’ ‘Uncharted territory’

Reaction has been swift and severe to the issue of subpoenas to five New York Times journalists who reported on security questions involving Trump’s new Qatari-gifted Air Force One.

“The subpoenas are an extraordinary escalation in President Trump’s efforts to threaten and intimidate independent news organizations and have a chilling effect on the work of journalists across the country,” said Jodie Ginsberg, CEO of the Committee to Protect Journalists.

The White House Correspondents Association holds its rescheduled dinner celebrating the First Amendment in less than two weeks, with Trump planning to attend. The first was scuttled when a shooter opened fire in what prosecutors say was an attempt to kill the president.

“The WHCA condemns any act of intimidation against journalists, including attempts to pressure them into revealing sources,” said a statement from the group’s president, Weijia Jiang.

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What does the Supreme Court want from Congress?

Security is central to the court’s budget request of $228 million — roughly 10% more than the last fiscal year.

Nearly $15 million of that would go to expanding personal protection for justices, with six more agents for each.

Another $2 million would fund more Supreme Court police officers and an off-site residential security post to speed emergency responses.

The U.S. Marshals Service reported 564 threats to the hundreds of federal judges around the country during the last fiscal year, and justices have not been immune: Barrett’s security detail had to defuse a fake 911 call at her house, and her sister was the victim of a bomb threat. A would-be assassin was arrested near the home of Justice Brett Kavanaugh.

Chief Justice John Roberts has condemned the threats, saying it’s “dangerous, and it’s got to stop.”

June inflation report shows complicated outlook for Trump on economy

The White House will have reasons to rejoice in the June release of the consumer price index, as prices fell 0.4% on a monthly basis in large part because of tumbling oil prices tied to the now deteriorated ceasefire with Iran.

But prices still rose 3.5% over the past 12 months, well above the Federal Reserve’s inflation target of 2%.

And the monthly decline could be short-lived, with oil prices jumping again as fighting intensifies in the Middle East.

Prices for the global benchmark of Brent crude oil have risen nearly 8% in the past five days of trading to about $81 a barrel on Tuesday, a sign that inflation could soon pick up again as the American public begins to focus on the November midterm elections.

Attacks resume across the Mideast

The U.S. military’s Central Command said it struck several areas in Iran, targeting “coastal defense systems, missile and drone sites and maritime capabilities.” Iran acknowledged the strikes, but provided no immediate casualty or damage assessments.

“These strikes will continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz,” the U.S. military said.

Moments after the military announced the new strikes, Trump called it “another major attack” and said the U.S. was “putting the blockade back.”

Iran responded with attacks targeting Bahrain, Jordan and three tankers that traveled through the strait.

Here’s Trump’s rationale for charging tolls in the strait

U.S. Central Command said on social media that it “will enforce the blockade against vessels transiting to or from Iranian ports and coastal areas” beginning Tuesday at 4 p.m. EDT, and will “support traffic flow through regional waters for all vessels not violating the blockade.”

A notice to mariners released Monday by the U.S. military warned of using force if ships don’t comply. It also said the military will let through humanitarian shipments.

The statement follows Trump declaring that the U.S. would be reinstating the naval blockade and charging a 20% toll on eligible cargo.

“We’re protecting a very rich portion of the world,” Trump said. “We’re spending money. And so, what we’ve done is, we are going to be reimbursed for protection.”

Capt. Tim Hawkins, a spokesman for U.S. Central Command, would not say whether the military would be collecting tolls, and referred questions to the White House.

Trump to address the nation on Thursday

The president posted on social media that he would be “making a Speech to the Nation” at 9 p.m. EDT on Thursday.

Trump appeared to refer to himself in the third person in the post.

He did not disclose the details of his planned speech, but the announcement comes after Trump said he would block Iran-related ships from traveling through the Strait of Hormuz and that the U.S. would charge a 20% fee on all cargo going through the waterway.

Asked in an interview with Hugh Hewitt what his Thursday address will be about, Trump made it sound like nothing out of the ordinary.

“It’s just going to be a speech like a lot of my speeches,” he said, without offering any more detail.

WASHINGTON (AP) — Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps.

Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh said in his first appearance before Congress since becoming chair May 22, replacing former chair Jerome Powell. “And we share a resolute commitment to restoring price stability.”

Still, Warsh heads a sharply divided rate-setting committee, with about half of the 19 policymakers penciling in higher interest rates by the end of the year in forecasts released last month. Another half have signaled that they support keeping rates unchanged or even cutting them. Warsh faces a stiff challenge in reconciling the divided committee while navigating a rapidly-changing economic outlook.

Warsh spoke to the House Financial Services Committee soon after the government reported that inflation fell 0.4% from May to June, driven down mostly by cheaper gas prices. Core inflation — which excludes the volatile energy and food categories — was unchanged last month, a broader slowdown in price increases than economists expected.

Compared with a year ago, inflation dropped to 3.5% from 4.2% in May. Core inflation rose just 2.6% in June from a year earlier, down from 2.9% in May, a positive sign that higher gas costs haven’t yet lifted broader prices. Still, the core figure is above the Fed’s 2% target.

The cooling inflation figures reduce pressure on the Fed to combat higher prices by hiking interest rates. Still, the renewed conflict in the Middle East has already driven up oil prices and could reverse some of the progress on inflation in coming months.

Warsh, asked about the price figures, said they represented just one month of data and suggested he does not see inflation as defeated.

“There might be some that look at this morning’s data and say, ‘mission accomplished,’” he said. “That is not my view.”

Guidance on next steps

In keeping with his stated policy of providing less guidance about the Fed’s policies, Warsh did not signal whether rate increases would be necessary to combat inflation. The next meeting of the Fed’s rate-setting committee is July 28-29.

Under questioning from members of the House committee, he explained a bit more his thinking about pulling back on what Fed-watchers refer to as “forward guidance.”

“If we were to give you my projection today about what we’ll do when we meet in two weeks,” Warsh said, Fed officials are more likely to accept information “consistent with our priors and rejecting information that’s inconsistent.”

“When we have news for you about exactly the methods of solving this problem, we’ll be very clear about what they are,” he added later.

Warsh was pressed by Democrats on the committee to explain how he would react if President Donald Trump, who repeatedly attacked his predecessor, demanded that he cut rates or take other steps that weren’t justified by the economic data.

“Are you ready for that?” Rep. Gregory Meeks, a Democrat from New York, asked.

“My commitment to you is to follow the law and follow the data, follow our very best judgment,” Warsh said.

Warsh also cited the Supreme Court’s recent decision to allow Fed governor Lisa Cook to remain on the central bank’s board, thwarting Trump’s attempt to fire her for now, as a sign the high court sees the Fed as independent.

“To the extent there were questions about it, the court has answered those questions,” he said.

The renewal of the Iran war has caused oil prices to climb again after they had fallen back to nearly their prewar level. Gas prices had fallen about 20% from their peak but have also increased in the past week and are still about 35% higher than they were when the U.S. attacked Iran Feb. 28.

Some Fed officials have argued that underlying inflation, even excluding the impact of gas prices, remains elevated and may require higher interest rates to defeat.

Impact of technology investments

Another factor that could boost inflation for the rest of this year is the massive investment in artificial intelligence infrastructure by the so-called “hyperscalers,” such as Google parent Alphabet, Microsoft, Amazon, and Meta Platforms. The spiking demand for memory chips and processors has sent semiconductor prices soaring, leading to price hikes for laptops, tablets, and video game consoles.

Warsh said Tuesday that AI investment is “the most striking feature of the economy right now” and added that the Fed is “monitoring the implications” for inflation and jobs.

Other Fed officials have stepped in to provide guidance as Warsh has declined to do so. Fed Governor Christopher Waller on Monday said that another “hot” inflation report Tuesday would mean the Fed would have to consider raising rates “in the near term.”

But last week John Williams, president of the Federal Reserve Bank of New York, said that if core inflation stays at a 0.2% monthly pace for the rest of this year, the Fed could avoid hiking rates. Williams’ approach implies the Fed would keep rates steady for some time while it monitors incoming data.

OMAHA, Neb. (AP) — Billionaire Warren Buffett omitted Bill Gates ′ foundation from his annual donations this year after disclosures of the Microsoft co-founder’s ties to convicted sex offender Jeffrey Epstein. He will donate about $6 billion to four foundations connected to his own family, but did not mention Gates in his announcement Tuesday.

Buffett also said in his statement that he wants all of his remaining Berkshire Hathaway stock worth more than $140 billion donated to charity by the end of 2034. Previously the plan was for his three children to distribute his remaining fortune within 10 years of the 95-year-old investor’s death.

“Of course, mortality is unpredictable, but my remaining shares will be donated to the four foundations one way or the other by December 31, 2034,” Buffett said in a statement. “The goal is to have the grants grow annually to each of the three foundations managed by each of my children and the annual grant to the Susan Thompson Buffett Foundation grow at a somewhat greater rate.”

Buffett did not immediately respond Tuesday to questions. CNBC said Buffett was scheduled to give the channel an exclusive interview on the topic Wednesday morning.

The Gates Foundation thanked Buffett for his gifts in a statement Tuesday and said the foundation remains in a strong financial position thanks to Gates’ pledge to donate 99% of his remaining fortune to the charity, which plans to close in 2045 after distributing the money.

“The Gates Foundation is grateful to Warren Buffett for his decades of support for our work. His gifts, totaling more than $47 billion, have helped us expand and deliver on the foundation’s mission to improve health and opportunity for people around the world,” the charity said in its statement.

Buffett’s latest gifts are roughly equal to last year’s donations

The majority of Buffett’s charitable gifts — worth more than $61 billion — have gone to the Gates Foundation since he announced the plan to give away his fortune in 2006. He has been giving blocks of Berkshire Hathaway stock to the Gates Foundation and the four foundations run by his three children regularly.

Buffett plans to give about $4.5 billion in stock to the Susan Thompson Buffett Foundation this year and about $500 million in shares each to the Sherwood Foundation, Howard G. Buffett Foundation and Novo Foundation, which are run by his children.

So the total amount of donations announced Tuesday is similar to the roughly $6 billion in donations he made last summer, with Buffett’s family foundations getting significantly more than in previous years that would seem to account for the money that would have gone to the Gates Foundation.

Gates has denied any ties to Epstein’s crimes

Gates denies any knowledge of Epstein’s crimes and has not been accused of any wrongdoing. He said he only met with Epstein because he thought it might help him raise money for charitable causes.

Epstein, who was accused of sexually abusing dozens of underage girls, was found dead at the Manhattan federal lockup in August 2019 and his death was later ruled a suicide by New York City’s medical examiner.

Buffett already said in 2024 that he planned to cut off donations to the Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune. The decision he announced Tuesday will accelerate that plan.

The two billionaires were the best of friends

Buffett and Gates used to be exceptionally close friends who talked often, played bridge online and even took vacations together. Gates also served on the board of Buffett’s conglomerate for years and the legendary investor sat on the board of the Gates Foundation. But Buffett told CNBC in March that he hadn’t talked to Gates for months since before the Epstein files were released. The disclosures began in December 2025 and continued into this year.

In the past, Buffett stood up for Gates. Three years ago, Buffett cut off a man who was presenting a resolution at the Berkshire Hathaway shareholder meeting after he questioned Gates’ character because of his ties with Epstein. Peter Flaherty was arrested that day for trespassing even though he had been approved to make the presentation beforehand. The charge was later dropped, but the incident led to a lawsuit, which is still pending in the courts.

Buffett can’t believe how many people Epstein fooled

Buffett said to CNBC “it is astounding to me that anybody could be that successful as a con person” but Epstein found a way to exploit the weaknesses of others. Buffett would not discuss Gates’ involvement, but said he doesn’t want to be involved with anything that could be investigated later.

Gates discussed his ties to Epstein with the staff of his foundation recently. Gates appears multiple times in the Justice Department’s release of documents connected to its investigation of the late financier. The Justice Department’s files include email correspondence between Gates and Epstein about philanthropic projects, calendar entries documenting dates they got together, and photos of Gates at events the two men attended.

The foundation announced that it hired someone in March to assess the foundation’s past engagement with Epstein and review its policies to vet any future philanthropic partnerships. Gates and the rest of the foundation’s board expect to get an update on that investigation sometime this summer.

Buffett told CNBC that he’s amazed at how many wealthy and powerful people have been caught up in the Epstein scandal.

“I mean, it, here you had a guy that was a convicted guy, a sensational con man, and the percentage of people that he knocked off,” Buffett said. “I mean, whether it was, he found their weakness. It might have been sex. It might be power, it might be, whatever it might be. And I don’t see how anybody could have pulled that off.”

Buffett said he’s glad Epstein never came to Omaha, where he has lived for more than six decades. Buffett is regarded by many as the world’s greatest investor who built up Berkshire over the years by buying insurance companies like Geico, major utilities, manufacturers and well-known brands like Dairy Queen and the BNSF railroad.

Buffett stepped down as Berkshire CEO in January after 60 years of leading the company, but he remains as chairman and the largest shareholder. Greg Abel is now CEO of Berkshire Hathaway.