Warren Buffett resigns from Gates Foundation, has donated half his fortune

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Warren Buffett said he is resigning as a trustee of the Bill and Melinda Gates Foundation, and has donated half his wealth to philanthropy since his pledge 15 years ago.

FILE PHOTO: Berkshire Hathaway CEO Warren Buffett shows his friend Microsoft co-founder Bill Gates the finer points of newspaper tossing, prior to the Berkshire annual meeting in OmahaFILE PHOTO: Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks while Bill Gates looks on at Columbia University in New YorkFILE PHOTO: Berkshire Hathaway CEO Warren Buffett gestures before a table tennis game with Microsoft Chairman Bill Gates in OmahaFILE PHOTO: Berkshire Hathaway CEO Warren Buffett...

He did not explain why he is resigning, while noting he has given up all directorships outside Berkshire, reducing his workload. "Over many decades I have accumulated an almost incomprehensible sum simply by doing what I love to do," Buffett said. "Society has a use for my money: I don't." Microsoft Corp later said it had reviewed an accusation that Bill Gates had tried in 2000 to have an intimate relationship with an employee.In an email to Gates Foundation employees, Suzman said he has discussed with Buffett and the Gateses how to strengthen governance and decisionmaking, and planned to share more information in July.

Had Buffett not made his donations, his fortune would roughly equal that of Amazon.com Inc founder Jeff Bezos, the world's richest person according to Forbes magazine.

 

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