Microsoft co-founder and one of the world’s richest men Bill Gates has stepped down from Microsoft’s board to focus on his philanthropy initiatives.
In his latest move, he also stepped down from fellow billionaire Warren Buffett’s holding company Berkshire Hathaway.
While announcing his decision to step down, Mr. Gates had this to say: “I am looking forward to this next phase as an opportunity to maintain the friendships and partnerships that have meant the most to me, continue to contribute to two companies of which I am incredibly proud, and effectively prioritise my commitment to addressing some of the world’s toughest challenges.”
Bill Gates is the world’s, second-richest man. Coming behind only Amazon founder Jeff Bezos.
Gates made his wealth creating software and applications for personal computers.
He made most of his fortune from Microsoft, a company he and his childhood friend Paul Allen set up. He is now stepping down from the board after he stopped being involved in the day-to-day running of Microsoft since 2008. But he maintains that “always be an important part of my life’s work”.
Mr. Gates and his wife Melinda Gates were dubbed the most generous philanthropists in 2018 by the popular Chronicle of Philanthropy.
Gates now focuses his full attention on the Bill and Melinda Gates Foundation.