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Warren Buffett resigns as trustee from the Gates Foundation

Warren Buffett resigns as trustee from the Gates Foundation

Warren Buffett has resigned as a trustee from the Bill and Melinda Gates Foundation.

 

The announcement comes weeks after Bill and Melinda Gates announced that they were divorcing after 27 years of marriage but would continue to jointly run the foundation, one of the largest charitable foundations in the world. Gates was formerly the world’s richest person and his fortune is estimated at well over $100bn.

 

“For years I have been a trustee, an inactive trustee at that of only one recipient of my funds, the Bill and Melinda Gates Foundation (BMG). I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s,” Buffett said in a prepared statement on Wednesday, June 23.

 

“The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals.”

Warren Buffett resigns as trustee from the Gates Foundation
Warren Buffett resigns as trustee from the Gates Foundation

Buffett, the chairman, and chief executive of Berkshire Hathaway, also said Wednesday that he is halfway to reaching his goal of giving away the entirety of his shares in the conglomerate and that he’s making another $4.1bn in donations.

 

 


Buffet gave no reason for stepping down from the Gates Foundation, but questions have been raised about the structure of its leadership after reports of Bill Gates’ behavior in the workplace.

 

According to Aljazeera, board members at Microsoft Corp made a decision in 2020 that it was not appropriate for Gates, the company’s co-founder, to sit on its board as they investigated the billionaire’s prior romantic relationship with a female Microsoft employee that was deemed inappropriate.

 

The Bill and Melinda Gates Foundation has said that it is not investigating the allegations in the media, as the reported incident involving one of the world’s largest, most influential nonprofits was made by “an anonymous former employee”.

 

Buffett, now 90, has begun stepping away from his leadership role at Berkshire Hathaway. This year, he said that he would step down as CEO of the sprawling company.

 

 


Buffett said Wednesday while he still loves his job, “I’m clearly playing in a game that for me, has moved past the fourth quarter and into overtime.”

TEMI BADMUS
Temi Badmus is a Food scientist and an Art enthusiast. Her desire is to give a listening ear to people and to give an opportunity for everyone to be heard. She is a humorous and controversial writer, who believes all form of writing is audible if it's done well. Temi Badmus is research oriented, dog lover; she is currently a mum to two brutal Jack Russell terrier " Cash and Indigo" . 🐕 🐕 The future is female... The future is Productive.