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Warren Buffett Steps Down From The Gates Foundation
Bill Gates

Warren Buffett Steps Down From The Gates Foundation

NEW YORK (AP) — Warren Buffett has resigned from the Bill and Melinda Gates Foundation as a trustee.

The announcement comes just weeks after Bill and Melinda Gates announced their divorce after 27 years of marriage but would continue to run the Gates Foundation, one of the world's largest charitable foundations. Gates was previously the world's richest person, with an estimated fortune of 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), which I am now resigning from, just as I have done at all corporate boards other than Berkshire’s,” Buffett said in a prepared statement Wednesday.

Buffett, the chairman and CEO of Berkshire Hathaway, also announced on Wednesday that he is halfway to his goal of donating the entirety of his stock in the conglomerate, and that he will make another $4.1 billion in donations.

Buffet did not give a reason for his resignation from the Gates Foundation, but questions have been raised about the foundation's leadership structure in the aftermath of reports of Bill Gates' workplace behavior.

Microsoft Corp. board members decided in 2020 that it was not appropriate for Gates, the company's co-founder, to sit on its board while they investigated the billionaire's previous inappropriate romantic relationship with a female Microsoft employee.

The Bill and Melinda Gates Foundation has stated that it is not looking into the media allegations because the alleged incident involving one of the world's largest and most influential nonprofits was made by "an anonymous former employee."

And Buffett, now 90, has begun to relinquish his leadership role at Berkshire Hathaway, announcing this year that he would step down as CEO of the vast conglomerate.

Buffett stated on Wednesday that, while he still enjoys his job, "I'm clearly playing in a game that has moved past the fourth quarter and into overtime."

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