The Bill and Melinda Gates Foundation announced that Warren Buffett had stepped down as the Trustee of the largest private charitable organisations. Buffett, the CEO of Berkshire Hathaway Inc., donated an additional $ 4.1 billion worth of stocks to philanthropy as part of the announcement.

Buffett has been making such philanthropic donations since, 2006 as part of his annual contributions to five different charitable organisations – according to his plan to distribute 99% his net worth to philanthropy.

Buffett stated, “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. I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s.”