Billionaire investor, Warren Buffett said he is resigning as a trustee of the Bill and Melinda Gates Foundation and also donating another $4.1 billion to philanthropic organizations
This latest distribution of wealth is part of a pledge he made in 2006 to give away all of the shares he owns in Berkshire Hathaway, the Nebraska-based conglomerate he has owned since 1970.
His Berkshire Hathaway shares comprise around 99% of his net worth and Buffet said he is “halfway there” in donating the majority of his wealth.
Since 2006, Buffett has donated more than $41.5 billion of Berkshire shares, including $32.7 billion to the Gates Foundation.
Buffett said it was the “easiest deed in the world” to “give away money that will never be of any real use to you or your family.”
Buffett, 90, said in a statement that he has been an “inactive trustee” for years at the foundation, but fully supported Chief Executive, Mark Suzman and that their goals were “100% in sync.”
In a statement, Warren Buffett said, “A much more admirable form of philanthropy than mine involves the giving of personal time and effort, I’ve done little of that.
Those who give their love and time in order to directly help others perhaps adding a monetary gift that requires them to give up the purchase of something meaningful for their own use are the heroes of philanthropy. America has millions of such givers.”
The recipients of Buffett’s donations include the Bill and Melinda Gates Foundation, the Susan Thompson Buffett Foundation that was named in honour of his late wife, and philanthropic organizations founded by his children.