Warren Buffett steps down from Gates Foundation, announces new donation worth $4.1 billion

The renowned American investor announced on Wednesday that he had completed half of his pledge taken in 2006 to donate all his shares in Berkshire Hathaway for philanthropy. 

Renowned American investor, Warren Buffett on Wednesday announced his resignation from the post of a trustee at the Bill and Melinda Gates Foundation. Before his resignation, he announced a donation of shares of Berkshire Hathway valued at $4.1 billion to five charity foundations- Bill & Melinda Gates Foundation(BMG), Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

Announcing the move through a statement, Buffett said that he was resigning from the post “just as I have done at all corporate boards other than Berkshire’s.” He emphasised that he was in agreement with the goals of the foundation and that his physical participation was not necessary to reach those goals.

The 90-year-old businessman and investor also expressed support for Mark Suzman who was appointed as the Chief Executive Officer of the BMG in February 2020.

Earlier in May 2021, the co-founders of the BMG, Bill and Melinda Gates had filed for a divorce. However, the couple maintained that they would still work together to continue the work of the foundation.

Warren Buffett announced on Wednesday that he had completed half of his pledge taken in 2006 to donate all his shares in Berkshire Hathaway for philanthropy.

Founded in the year 2000, the Bill and Melinda Gates Foundation has expanded its philanthropic activities over the years to become a significant player contributing to the field of global health. In 2019, the foundation had conferred the Global Goalkeeper award to Prime Minister Narendra Modi for his government’s work under the Swachh Bharat Abhiyan.

 

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