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Another $4.1 billion for Gates Foundation, but he resigned

Share with friends and circle of friends by wechat scanning QR code < / P > < p > on June 24, Warren Buffet, a billionaire with the reputation of "God of stocks", announced on Wednesday that he would donate $4.1 billion worth of Berkshire Hathaway shares to five foundations, And resigned as trustee of the bill and Melinda Gates Foundation (BMG) < p > the latest donation marks that the 90 year old Oracle of Omaha has fulfilled half of his promises. In 2006, he promised to donate all of his Berkshire Hathaway shares through BMG, the Susan Thompson buffet foundation, the Sherwood foundation, the Howard g. buffet foundation and the novo foundation. At that time, Mr. Buffett held 474998 A-shares in the company. Today, his stake has fallen to 238624, worth about $100 billion "Today is a milestone for me," Buffett said in a statement. In 2006, I promised to donate all my Berkshire Hathaway shares (more than 99% of my net worth) to charity. Plus the $4.1 billion I donated today, I've made half of my promises. " At the same time, Buffett announced his resignation as trustee of BMG, a charity in a turbulent period of divorce between its two founders. The news has caused a stir in the charity community, and caused people to worry about the future fate of one of the world's largest and most influential charity organizations. According to sources, the fund may set up a board of directors and introduce external directors to minimize interference with its work "For many years, I was just a trustee of BMG, and I was a less active trustee," says Mr Buffett. I'm resigning this position now, just as I'm resigning all directorships outside Berkshire Hathaway. The CEO of BMG is mark Suzman, who is an outstanding leader and I fully support him. My goals are 100% the same as those of BMG, and it doesn't take me to achieve them. " "The impact of Buffett's generosity is hard to quantify," Suzman said in an email. More difficult to quantify is the impact of his values on the foundation culture. I know that the departure of Mr. Buffett has raised questions about the governance of the foundation. But as I mentioned earlier, in view of gates and Melinda's recent divorce announcement, I have been actively discussing with Buffett, gates and Melinda ways to strengthen our governance in order to maintain long-term stability and sustainability. I plan to share more in July. " "More than a decade ago, when we first heard about Warren Buffett's donation to our foundation, we were so excited that we didn't know what to do," Gates said in a statement. This is the largest donation from a single person. We are humbled by his trust in us. We are determined to work hard every day to ensure that his resources help as many people as possible to improve their lives. We always have a sense of responsibility to Warren Buffett, paying close attention to the data to track our progress and identify areas where we can do better. But the value of Mr. Buffett's gift is beyond any measure. I sincerely thank him for his wisdom and leadership, and most importantly, for his enduring friendship. Buffett will continue to inspire our foundation because we will continue to work to fight poverty and help millions of people live healthier lives. " < p > Melinda said: "the reason why Buffett's huge donation to the foundation is significant is not only because of its huge amount, but also because it represents the idea that everyone should have a healthy and fulfilling life and is optimistic that such a future can be realized. I thank Warren Buffett for his generosity and friendship. His wisdom has always been the guiding light of our foundation, and what we have learned from him will continue to help us plan our way forward. " In May this year, Microsoft co-founder and former CEO Bill Gates and his ex-wife Melinda announced their divorce. The couple and Mr. Buffett are the founders of the giving pledge, which requires participants to donate more than half of their wealth The total value of his 16 donations to the five foundations over the years is about $41 billion, Mr. Buffett said. According to FactSet, Buffett is the largest shareholder of Berkshire Hathaway, holding about 39% of class A shares. Berkshire shares rebounded more than 20% to a record high in 2021 as many of the group's businesses recovered better than expected from the epidemic "I'm very optimistic about the future, and the best days in the United States are definitely ahead," Mr. Buffett said. Philanthropy will continue to combine talent with financial resources, as will businesses and governments. Each force has its own unique advantages and disadvantages. Together, they will make the world a better place and create a better place for future generations. " < p > Buffett also reiterated his advice to the rich, asking them to consider how to deal with their wealth after death. "After a lot of observation of super rich families, my advice is: leave enough money for children so that they can do anything, but not enough that they don't do anything," he said( Small) < / P > < p >


2023-03-22 10:04:37

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