Microsoft co-founder, Bill Gates has decided to step down from the boards of Microsoft and Berkshire Hathaway, Warren Buffet’s holding company, to focus on his philanthropic works.
Bill Gates disclosed that he wants to focus on philanthropy, global health, development, education and tackling climate change.
Gates, 65 who co-founded Microsoft in 1975 with Paul Allen, who died in 2018 has now grown the company over the last 30 years to one of the world’s richest companies.
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Gates has been gradually reducing his role at Microsoft for the last 20 years. He completed his tenure as CEO in 2000, ended his day-to-day role in June 2008 and stepped down as chairman in February 2014.
“I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” Gates said on LinkedIn.
“The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step.” he said.
According to Barrons, on Friday, Microsoft shares slipped 3.2%, to $153.71. The stock rallied 14.2% to $158.83 in Friday’s regular session, as stocks rebounded sharply from Thursday’s historic selloff.