Warren Buffett on Wednesday announced that he is resigning 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 worlds richest person and his fortune is estimated at well over $100 billion.
"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 Berkshires," Buffett said in a prepared statement on Wednesday.
The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100 percent in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals.
Buffett, the chairman and chief executive of Berkshire Hathaway, also said 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 $4.1 billion in donations.
(Edited by : Aditi Gautam)
First Published: IST