Warren Buffett resigns as trustee of Gates Foundation, donates $4.1 billion
- Warren Buffett described himself as an 'inactive trustee' at the foundation
- Buffett has donated $41 billion worth of Berkshire stock to five foundations
- The business magnate has not given a reason behind the resignation
American business magnate Warren Buffett Wednesday resigned as the trustee of Bill & Melinda Gates Foundation, according to AFP. Buffett said that he has donated $4.1 billion worth of Berkshire Hathaway shares to five foundations. This development comes weeks after Bill and Melinda Gates filed for a divorce.
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According to The New York Times, Buffett, the chairman and chief executive of Berkshire Hathaway, has donated $41 billion worth of Berkshire stock to five foundations including the Gates Foundation. On Wednesday the billionaire said that he has donated an additional $4.1 billion.
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“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.” The New York Times quoted Buffett.
However, Warren Buffet did not give a reason for his action.
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