Warren Buffett resigns as trustee of Gates Foundation

Warren Buffett on Wednesday resigned as trustee of the Bill and Melinda Gates Foundation, one of the world’s largest private charitable organizations, as he delivered another $4.1 billion worth of Berkshire Hathaway stock to philanthropy.

Buffett has been making annual contributions to five charitable foundations since 2006 as part of a plan to distribute about 99 per cent of his net worth to philanthropy. “With today’s $4.1 billion distribution, I’m halfway there,” Buffett said in a statement.

He did not clearly state why he was leaving the Gates foundation board at this time, and expressed his support for the foundation’s current CEO and its direction. Bill Gates and his wife Melinda, co-founders of the foundation, filed for divorce in May after 27 years of marriage but have pledged to continue their philanthropic work together.