Warren Buffett Steps Down As Trustee at Bill & Melinda Gates Foundation

Arhama AltafWeb Editor

24th Jun, 2021. 11:55 am
Warren Buffett Steps Down From Bill & Melinda Gates Foundation

Warren Buffett has announced to step down as a trustee of the Bill and Melinda Gates Foundation on Wednesday, giving another $4.1 billion to five foundations as part of his long-standing annual commitment to philanthropy.

“Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares – more than 99% of my net worth – to philanthropy. With today’s $4.1 billion distribution, I’m halfway there,” Warren Buffett wrote in a letter on Wednesday.

“I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s. 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,” he added.

However, the announcement from Buffett comes weeks after Bill and Melinda Gates had revealed that they parted ways after 27 years of marriage but would continue to jointly run one of the largest charitable foundations globally.

On the other hand, co-chair of BMGF, Bill Gates in his Twitter thread said, “I am truly grateful for his wisdom and leadership, and most of all for his enduring friendship. Warren will continue to inspire our foundation as we work to fight poverty and help millions of people live healthier lives.”

“I will always have a deep sense of accountability to Warren, paying close attention to the data to track our progress and identify areas where we can do better. But the value of Warren’s gift goes beyond anything that can be measured,” he added.

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