American billionaire Warren Buffett, one of the wealthiest people in the world, has decided to resign from his role at the Bill & Melinda Gates Foundation, where he has served as a "passive trustee" for years while contributing his money. In comments about his company’s annual contributions to five organizations, Buffett stated, "I am now resigning from this position, just as I have from all boards except Berkshire," as reported by the Wall Street Journal.
Buffett's resignation from the Gates Foundation board comes at an uncertain time for the organization after founders Bill Gates and Melinda French Gates announced their intention to divorce. The couple led the foundation for two decades, directing billions of dollars toward more than twenty areas, including polio eradication, infectious diseases, gender equality, education, and agricultural development in the United States.
In a statement on Wednesday, the Chairman and CEO of Berkshire commented on charitable work, government, and the public, also noting his donation of $4.1 billion in Berkshire Hathaway shares to the five organizations. Buffett mentioned that he is now halfway through the commitment he made in 2006 to distribute all his shares in Berkshire—over 99% of his net worth—to charitable causes. He added, "Over many decades, I’ve accumulated a sum that is almost incomprehensible simply by doing what I love to do. Compound interest, a long-term path, wonderful colleagues, and our amazing country have simply worked their magic."
