The announcement comes weeks after Bill and Melinda Gates announced they would divorce after 27 years of marriage, but would continue to jointly manage the foundation, one of the largest charitable foundations in the world. Gates was once the richest person in the world and his fortune is estimated at over $ 100 billion.
“For years, I was a trustee – an inactive trustee – of a single beneficiary of my funds, the Bill and Melinda Gates Foundation (BMG). I am now resigning from this position, as I have done on all boards other than Berkshire, ”Buffett said in a statement prepared Wednesday. “The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% aligned with those of the foundation, and my physical participation is in no way necessary to achieve those goals.
Buffett, chairman and chief executive of Berkshire Hathaway, also said on Wednesday that he was halfway to meeting his goal of divesting all of his shares in the conglomerate, and that he was making $ 4.1 billion. additional donations.
Buffet has given no reason to withdraw from the Gates Foundation, but questions have been raised about his leadership structure after reports of Bill Gates behavior in the workplace.
Members of the board of directors of Microsoft Corp. decided in 2020 that it was not appropriate for Gates, the company’s co-founder, to sit on its board of directors as they investigated the billionaire’s previous romantic relationship with a Microsoft employee who was deemed inappropriate .
The Bill and Melinda Gates Foundation said it was not investigating the allegations in the media because the reported incident involving one of the world’s largest and most influential nonprofits was committed by “An anonymous former employee”.
Buffett, now 90, has started to retire from his leadership role at Berkshire Hathaway. This year, he announced he would step down as CEO of the sprawling company.
Buffett said on Wednesday as he still enjoys his job, “I’m clearly playing in a game that for me is past the fourth quarter and went into overtime. ”