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.
The foundation is one of the largest charitable foundations in the
world. Gates was formerly the world’s 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 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 Wednesday 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. More than $3.2 billion went to the
Bill and Melinda Gates Foundation, bringing his total giving to the
foundation to nearly $33 billion, Suzman said in a statement.
“I know Warren’s departure raises questions about the foundation’s governance," Suzman said, adding he has been "actively discussing with him, Bill, and Melinda approaches to strengthen our governance to provide long-term stability and sustainability for the foundation’s governance and decision-making in light of the recent announcement of Bill and Melinda’s divorce. I plan to share additional information in July.”
