Warren Buffet resigns from Bill and Melinda Gates Foundation
Buffet’s resignation comes just weeks after Bill and Melinda Gates announced they are divorcing.
![Warren Buffett (right) gave no reason for stepping down from the Bill and Melinda Gates Foundation, but questions have been raised about the structure of its leadership after reports of Bill Gates's behaviour in the workplace [Bloomberg]](https://www.aljazeera.com/wp-content/uploads/2021/06/372695219.jpg?resize=770%2C513)
Warren Buffett resigned on Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders.
The announcement from Buffett comes weeks after Bill and Melinda Gates revealed that they were divorcing after 27 years of marriage but would continue to jointly run one of the largest charitable foundations in the world. Buffett was one of three members of the foundation’s board; the other two are Bill and Melinda Gates.
Warren Buffet resigns from Bill and Melinda Gates Foundation
Buffet’s resignation comes just weeks after Bill and Melinda Gates announced they are divorcing.
Warren Buffett resigned on Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders.
The announcement from Buffett comes weeks after Bill and Melinda Gates revealed that they were divorcing after 27 years of marriage but would continue to jointly run one of the largest charitable foundations in the world. Buffett was one of three members of the foundation’s board; the other two are Bill and Melinda Gates.
“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 Berkshire’s,” Buffett said in a prepared statement Wednesday. “The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% 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 donating another $4.1bn in shares to five foundations, though the lion’s share went to the Bill and Melinda Gates Foundation. In Buffett’s donation announced Wednesday, it received more than $3.2bn, bringing his total giving to the foundation to nearly $33bn, Suzman said in a statement.
Warren Buffet resigns from Bill and Melinda Gates Foundation
Buffet’s resignation comes just weeks after Bill and Melinda Gates announced they are divorcing.
Warren Buffett resigned on Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders.
The announcement from Buffett comes weeks after Bill and Melinda Gates revealed that they were divorcing after 27 years of marriage but would continue to jointly run one of the largest charitable foundations in the world. Buffett was one of three members of the foundation’s board; the other two are Bill and Melinda Gates.
“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 Berkshire’s,” Buffett said in a prepared statement Wednesday. “The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% 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 donating another $4.1bn in shares to five foundations, though the lion’s share went to the Bill and Melinda Gates Foundation. In Buffett’s donation announced Wednesday, it received more than $3.2bn, bringing his total giving to the foundation to nearly $33bn, Suzman said in a statement.
There have been calls in philanthropy circles to diversify the Bill and Melinda Gates Foundation’s board, and critics have long pointed out that decision-making is concentrated in very few hands at the foundation, which they say has outsized influence in public health and other fields [File: Ludovic MARIN / AFP]
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