Warren Buffett resigns as trustee of Bill and Melinda Gates Foundation; to give away $4.1 billion

Warren Buffett resigns as trustee of Bill and Melinda Gates Foundation; to give away $4.1 billion

FPJ Web DeskUpdated: Wednesday, June 23, 2021, 06:22 PM IST
article-image
Warren Buffett |

Warren Buffett resigns as trustee of Bill and Melinda Gates Foundation. According to reports, he will donate $4.1 billion worth of Berkshire Hathaway shares to five foundations as well.

“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,” Buffett said.

As per CNBC report, Buffett stated, "In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today’s $4.1 billion distribution, I’m halfway there.”

In 2006, Buffett pledged to give away all of his Berkshire shares through annual gifts to Bill & Melinda Gates Foundation, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G Buffett Foundation and NoVo Foundation.

“The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals.”

Buffett owned 4,74,998 Berkshire 'A' shares. Today, he said he owns 2,38,624 shares, worth about $100 billion.

RECENT STORIES

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...