In a statement, Buffett didn’t specify why he’s leaving the foundation, but noted he has already resigned from all corporate boards other than Berkshire Hathaway’s. Buffett added that the foundation’s new CEO, Mark Suzman, is an “outstanding” selection and has his “full support.”
“My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals,” Buffett wrote.
The Bill & Melinda Gates Foundation was created in 2000, and it is funded by the couple’s personal wealth as well as several other Gates family foundations and a gift pledged by Buffett. Since 2000, the foundation has spent nearly $54 billion on a wide range of initiatives related to global health, poverty alleviation and, more recently, the global rollout of Covid-19 vaccines, according to its website.
The foundation announced shortly after the divorce bombshell that there will be “no changes to their roles or the organization are planned.”
“I still relish being on the field and carrying the ball. But I’m clearly playing in a game that, for me, has moved past the fourth quarter into overtime,” Buffett wrote.