Billionaire Warren Buffett Resigns from Bill and Melinda Gates Foundation, $49 Billion Endowment
25th June 2021 | Hong Kong
Billionaire Warren Buffet, Chairman of Berkshire Hathaway and one of the richest man in the world ($105 billion), has resigned as trustee of the Bill and Melinda Gates Foundation – a $49 billion trust endowment dispersing grants of $5 billion yearly with $5.1 billion to 136 countries in 2019. Warren Buffet has been donating to the foundation since 2006 to 2019, and have donated $27.3 billion to the foundation during the 14 years. In his official announcement, Warren Buffett, who is also the founder and first signers of the Giving Pledge, cited “being an inactive trustee as the reason for his resignation and he is also halfway through his goal to donate all his Berkshire Hathaway shares.”
” Warren Buffett Resigns from Bill and Melinda Gates Foundation, $49 Billion Endowment “
Billionaires Bill Gates & Melinda Divorce, $150 Billion Assets
In May 2021, Billionaires Bill Gates, one of the world’s richest man and co-founder of Microsoft, and his wife Melinda filed for divorce in Seattle, United States after 27 years of marriage (1994) citing broken marriage – “we no longer believe we can grow together as a couple”. Bill and Melinda Gates, with total assets of around $150 billion, are one of the most recognised couple globally for their philanthropic activities, especially through the Bill & Melinda Gates Foundation.
Bill & Melinda Gates Foundation
Founded in 2000, the Bill & Melinda Gates Foundation reported $49.8 billion of trust endowment at the end of 2019. Since inception to 2019, the foundation had given a total grant of $54.8 billion. In recent years, the foundation disburses around $5 billion of direct grant support yearly. (2018: $5 billion, $2019: 5.1 billion).
In 2019, the foundation funded a total of 136 countries. In United States, the foundation support those with fewer resources, providing access to opportunities to succeed in school and life. Internationally, the foundation focus on improving health, and helping people to lift themselves out of hunger and extreme poverty.
Bill Gates and Melinda Gates are the Co-chair and Trustee of Bill & Melinda Gates Foundation, while Warren Buffett, Chairman of Berkshire Hathaway, is a trustee of Bill & Melinda Gates Foundation.
Every year, the foundation received a donation from Warren Buffet. The donation started in 2016 with $1.6 billion, increasing every year and in 2019, the donation amounted to $2.7 billion. In total, the foundation received $27.3 billion from Warren Buffet over 14 years.
Warren Buffet Donation to Foundation:
The Giving Pledge
The Giving Pledge is a global philanthropic movement launched in 2010 by Microsoft chairman Bill Gates and his wife Melinda Gates along with Berkshire Hathaway chairman Warren Buffett with a total of 40 billionaires. The Giving Pledge is a moral commitment by the world’s wealthiest to give the majority of their wealth to charitable causes.
Currently, there are 220 pledgers from 25 countries.
Notable names are:
- Facebook founder Mark Zuckerberg and Priscilla Chan ($103 billion)
- Tesla founder Elon Musk ($162 billion)
- Oracle founder Larry Ellison ($90 billon)
- Virgin Group founder Richard Branson and Joan Branson. ($5 billion)
- Linkedin founder Reid Hoffman and Michelle Yee ($2 billion)
- David Rockefeller, deceased 2017 (3.8 billion)
Notable names from finance are:
- Bridgewater Associates founder Ray Dalio & Barbara Dalio ($20 billion)
- Blackstone founder Stephen Schwarzman ($23 billion)
- Carlyle Group founder David Rubeinstein ($4 billion)
- Bloomberg founder Michael Bloomberg ($59 billion)
- Icahn Enterprises founder Carl Icahn ($15 billion)
- Tudor Investment founder Paul Tudor Jones and Sonia ($7 billion)
(est. current networth, Feb 2021)
Signers of the Giving Pledge
Signers of the Giving Pledge commit to give the majority of their wealth to philanthropy, either during their lifetimes or in their wills.
To Join the Giving Pledge
To join the Giving Pledge, billionaires will need to have at least $1 billion in personal net worth and and are ready to make a public pledge to donate the majority of their personal wealth to philanthropy. Visit: The Giving Pledge
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