“Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares - more than 99 percent of my net worth - to philanthropy. With today’s $4.1 billion distribution, I’m halfway there,” Buffett said.
“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),” Buffett said.
Despite the resignation, Buffett added that his philanthropic goals were “100 percent in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals.”
The resignation comes at a tumultuous time for the Bill and Melinda Gates foundation, with the divorce of its two founders.
In 2006, when Buffett pledged to give away his entire fortune, he owned 474,998 Berkshire class A shares. With the latest distribution, Buffett said he still owns 238,624 shares, worth about $100 billion.
