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Warren Buffett has resigned from the Gates Foundation, and continues to question the world’s largest organization after its chairpersons, Bill and Melinda Gates, announced their divorce.
Buffett, an American stockbroker and chair of Berkshire Hathaway, became the foundation manager, along with his Gateses friends, when he announced in 2006 that he would donate his vast fortune.
For many years I have been a trustee – not a non-executive trustee – one of my personal recipients, the Bill & Melinda Gates Foundation (BMG). Now I am resigning, as I have been doing for all organizations except Berkshire, “Buffett said in a statement on Wednesday.
He also praised the founder of the foundation, Mark Suzman, for being “successful” and said their goals remained “100% in line with the basics”.
With a $ 50bn donation, the Gates Foundation is not only the largest charity, it also appears to be the most popular. It has amassed a wealth of resources that Bill Gates has acquired as a Microsoft co-founder in anti-piracy activities such as polio and reducing child mortality. His work is long vaccine has made it an important player in the fight against coronavirus.
But his future is in doubt after the Gateses announced in early May that he would be it’s over their 27-year-old marriage. In a statement released at the time, they pledged to remain committed to the foundation and “continue to work together on the foundation”.
Some of the former staff and counselors ask if the organization that the couple has been in control for 21 years could have continued as it is now. Some believe that it has built up enough nerves over the years to take action. The staff at the Foundation is now over 1,600.
In addition to the Gates Foundation, Bill and Melinda Gates each do their charitable work. For example, in 2015, Melinda launched a fundraiser, Pivotal Ventures, which aims to promote gender equality.
Suzman, who was elected senior last year, confirmed earlier this month that the Gateses were considering potential about adding external directors to the organization as part of a “smart planning for the future”.
In his remarks to workers Wednesday, he acknowledged the uncertainty raised by Buffett’s resignation. “I know Warren’s departure raises questions about foundation management. As I mentioned earlier, I have been actively discussing with Bill, and Melinda ways to strengthen our governments, ”he wrote, promising more in July.
Suzman also thanked Buffett for his recent donation – a $ 3.2bn prize announced Wednesday that will give his total funding to the Foundation approximately $ 33bn.
In the same statement, Melinda said she was “grateful for Warren’s generosity, leadership, and kinship”, while Bill paid tribute to his “lasting friendship” and said his foundation would “have enough information for Warren to pay for the tunnel.” listen a lot to see how we are progressing and identify areas where we can do better “.
Phil Buchanan, President of the Center for Effective Philanthropy, questioned Buffett’s announcement, shortly before the release of another legislative change, saying: . ”
Buchanan also considered the need for any change in the environment in which it has been most effective in charity and public health.
“As the largest foundation in the world, the Gates Foundation management plays a key role in making informed and symbolic decisions that send out the best in the industry and oversee and respond,” he said.
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