The world’s second richest man, Bill Gates, has quit the Board of Microsoft, the tech behemoth he co-founded in 1975 with Paul Allen, in a move that completes a phased withdrawal plan that began in 2008.
He said he was joining his wife Melinda to devote their full time to running the world’s largest charity known as the Bill and Melinda Gates Foundation, a charity that funds initiatives that address global diseases and poverty.
In Nigeria, Gates’ Foundation has made the most significant impact in eliminating polio and has also massively funded financial inclusion campaigns.
Gates began the process of total withdrawal from the Company in 2008 when he stepped down as the CEO but retained the position of Board Chair.
In 2014, he retired as chairman of the Board to become a non-executive director, a position he has now left in March 2020.
“It’s been a tremendous honour and privilege to have worked with and learned from Bill over the years,” Microsoft CEO, Satya Nadella, said.
Gates amassed a personal fortune currently valued at $99.5bn from running the tech giant, one of the most valuable companies in the world.
He also reportedly resigned from the Board of Warren Buffets investment vehicle, Berkshire Hathaway Inc where he served for 16 years.
He and Buffet, the third richest in the world, struck an unusual friendship that resulted in Buffet using Gates’ charity to funnel funds for philanthropic causes rather than set up his own.
Cover Photo Copyright: AP News