Warren Buffett resigns from the Bill & Melinda Gates Foundation
In a statement, Buffett did not specify why he was leaving the corporation, but noted that he has already resigned from all corporate boards other than Berkshire Hathaway. Buffett added that the foundation’s new CEO, Mark Susman, is a “fantastic” choice and has his “full support.”
“My goals are 100% aligned with the goals of the Foundation, and my physical involvement is not in any way necessary to achieve these goals,” Buffett wrote.
Buffett and Bill Gates are close friends. Their announcement comes about a month after Bill and Melinda Gates Announcing their divorce and subsequent reports of Inappropriate behavior of gates with Microsoft employees decades ago.
The Bill and Melinda Gates Foundation was created in 2000 and is funded by the couple’s personal estate, as well as several other Gates family foundations and a donation that Buffett promised. Since 2000, the Foundation has spent nearly $54 billion on a wide range of initiatives related to global health, poverty alleviation, and most recently the global launch of COVID-19 vaccines, according to its website.
The foundation announced shortly after learning of the divorce that “there will be no changes to its jobs or to the organization.”
Buffett’s resignation announcement was part of a broader statement about his charitable goals, in which Buffett noted that he recently pledged $4.1 billion in Berkshire Hathaway stock, putting him halfway toward his goal of giving away 99% of your net worth. in 2006 athe intent He was giving up all his company shares through donations. He has 238,624 shares remaining in Berkshire.
Buffett said Wednesday’s announcement was “not a swan song” for him Although a successor was recently appointed.
“I still enjoy being on the field and carrying the ball. But obviously I’m playing a game that, for me, has gone from the fourth quarter to overtime,” Buffett wrote.