- Warren Buffett steps down from the Billgates Foundation
- Board of Directors resigns
- But there is no change in donating wealth for the organization
Warren Buffett donated half of his wealth to charitable causes 15 years ago. He said the foundation had not had significant work for years but had fully supported Chief Executive Mark Sussman.
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He, however, did not disclose further details as to why he was stepping down, but reportedly left most of his board positions outside of his firm Berkshire. The move was also part of efforts to reduce the workload.
He also announced that he would donate more than $ 4.1 billion to the Gates Foundation and four family charities, including Berkshire Hathaway’s B – class shares. This is part of a pledge to donate 99 percent of the total assets to charitable causes. Since 2006, he has contributed a total of over $ 451 billion worth of Berkshire shares.