Amid Bill Gates-Melinda divorce, billionaire investor Warren Buffett resigns from Gates Foundation

Amid the ongoing divorce proceedings between Microsoft founder Bill Gates and his estranged wife Melinda Gates, billionaire investor Warren Buffett has announced his decision to resign as a trustee at the Bill and Melinda Gates Foundation. The billionaire investor also announced to donate USD 4.1 billion worth of Berkshire Hathaway shares to charity. It may be recalled that Bill Gates and Melinda Gates had announced their divorce on May 4 after remaining married for 27 years.

"My goals are 100% in sync with those of the foundation," said Buffett in a statement Wednesday. "In June of 2006, I owned 474,998 "A" shares. Now, I own 238,624 shares, worth about $100 billion," he said. "Please understand that these remarks are no swan song," he added. "I still relish being on the field and carrying the ball."

"Today is a milestone for me. In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today's $4.1 billion distribution, I'm halfway there," said Buffett, Berkshire's chairperson and CEO. According to Buffett, he will donate USD 4.1 billion worth of Berkshire Hathaway shares to five foundations.

Buffett said, "The CEO of BMG is Mark Suzman, an outstanding recent selection who has my 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 in his note also addressed criticism after it was recently claimed that the billionaire investor was paying 0.1% in taxes. Buffett asserted that his USD 41 billion of contributions to five foundations has produced about 40 cents of tax savings per $1,000 donated. "That's because I have relatively little income," Buffett said.