Billionaire investor Warren Buffett said on Wednesday that he was resigning from his position as trustee of Bill and Melinda Gates foundation (BMG), One of the world’s largest Non Profitable trusts.
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, 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 $100bn.
‘’Four 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 on Wednesday.
Mr. Buffett did not give a reason for his stepping down. The foundation’s reputation for global humanitarianism has lately been shaded by reports of Mr. Gates’s questionable conduct in work-related settings. They have reported that on at least a few occasions, Mr. Gates pursued women who worked for him at Microsoft and at the foundation, according to people with direct knowledge of his overtures.
Four years after Mr. Buffett guaranteed his initial billions to the Gates Foundation, Mr. Buffett and Gates created the Giving Pledge in 2010, a public commitment to philanthropy in which signatories promise to give away the bulk of their wealth. Taking their prompt from the Gates and Mr. Buffett, hundreds of the world’s wealthy have signed up.