Warren Buffett resigns from the Bill and Melinda Gates Foundation
The 90-year-old billionaire has announced that he is giving up all functions within the foundation, explaining that his "physical participation" is no longer necessary. However, it will continue to provide it with funding.
Warren Buffett leaves the ship. The American billionaire announced on Wednesday that he was abandoning all functions within the Bill and Melinda Gates foundation.
The 90-year-old businessman explains in a press release that he was an "inactive director" for years in this charity and has already given up this post on all the other boards of which he had been a member, except that of his Berkshire Hathaway business. He does not give any further explanation for his departure, which comes a few weeks after the news of Bill and Melinda Gates' divorce was announced.
Warren Buffett, whose fortune is estimated by Forbes magazine at around $ 104 billion, plans on the other hand to continue to provide funding. "My goals are 100% in line with those of the foundation and my physical participation is in no way necessary to achieve these goals," he said.
Annual contribution of $ 4.1 billion
Established in 2000, the foundation has grown over the years to become the most powerful private charity in the world, having funded various projects totaling $ 53.8 billion. Warren Buffett had committed in 2006 to distribute all of his Berkshire shares, or 99% of his fortune, to philanthropic actions. With its annual contribution unveiled Wednesday - the equivalent of $ 4.1 billion to 5 charities - "I'm halfway" of this goal, he said.
At the head of Berkshire Hathaway, which oversees some sixty companies ranging from insurer Geico to battery maker Duracell, the billionaire said in May that he planned to name Greg Abel as his successor when he leaves his post. But he didn't say when that would happen.
