According to the New York Times, on March 13, Bill Gates announced his departure from the Board of Directors of Microsoft and Berkshire Hathaway, the group operated by close friend Warren E. Buffett.
“I made the decision to resign at both of the boards of directors – Microsoft and Berkshire Hathaway – to spend more time on philanthropic activities such as global health, development, education, and growth. intensified in addressing climate change, ”Gates announced in an article on LinkedIn.
For decades, Bill Gates was the face of Microsoft. Known for his technical acumen and rigorous business operations, he made Windows the dominant operating system on the personal computer platform. Microsoft said that Gates will remain a technical adviser to the company.
Bill Gates has gradually stepped down from his executive position at Microsoft in recent years. He resigned as CEO in 2000 and remained Chairman of the Board of Directors until 2014.
“Microsoft will always be an important part of the work of my life, I will continue to stick with Satya and technology leaders to help shape the direction and achieve the company’s ambitious goals. I feel more optimistic than ever about the progress Microsoft is making, ”Gates mentioned Satya Nadella, CEO of Microsoft, in his LinkedIn article.
According to Microsoft, Gates wants to spend more time on philanthropy at the Bill & Melinda Gates Foundation, one of the largest nonprofit organizations in the world, starting with billions of dollars he earns from Microsoft.
Last month, the Bill & Melinda Gates Foundation pledged an additional $ 100 million to help fight Covid-19. Previously this organization has funded 10 million USD since the beginning of the year. Gates and Buffett, two of the richest men in the world, are also the most charitable donors to the foundation.
In 2006, Buffett pledged to donate most of his wealth to the Bill & Melinda Gates Foundation. Gates joined the board of Berkshire Hathaway in 2004.
The group nominated Kenneth Chenault, former CEO of American Express, to replace the position left by Bill Gates. Today, Gates remains one of Microsoft’s largest individual shareholders. As of December, he has held more than 100 million shares of the company, representing about 1.3% of the shares, worth about $ 16 billion.
Daniel Ives, director of equity research at Wedbush Securities, said Gates’s departure from the board of Microsoft was not a surprise and that was a way to focus his trust entirely on Nadella.
Bill Gates founded Microsoft in 1975 with Paul Allen, a friend from high school. In the same year, they moved to Albuquerque, where the fledgling computer company MITS built the Altair 8800, a machine originally but often considered the first personal computer. Microsoft’s first product was the BASIC programming language that could run on low-profile Altair computers.
After Gates decided to move to the suburbs of Seattle, a series of very successful commercial products were born, including the MS-DOS operating system, Windows and the Office office suite.
In the mid-1990s, Microsoft was a computer software company that dominated the personal computer market, so much so that they became the target of a series of antitrust investigations.
In a federal court case in 1998, Microsoft was found to violate national antitrust laws. After leaving key positions at Microsoft, Bill Gates’ main career in recent years has been in philanthropy. He has donated billions of dollars to disease elimination and global health care programs.
Source: Zing, NYT