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.
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.
“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.