Microsoft co-founder and world’s second-richest man, Bill Gates has stepped down from his executive role at Microsoft saying he wants to focus on philanthropy, global health, development, education and tackling climate change.
Gates, with a net worth of $106.7 billion co-founded Microsoft in 1975 with Paul Allen, who died in 2018 has grown the company to one of the world’s richest companies over the past 30 years.
He also announced he had left the board of Warren Buffett’s company, Berkshire Hathaway.
“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 on Friday.
“The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step.”
Mr. Gates said the company would “always be an important part of my life’s work” and that he would continue to be engaged with its leadership.
“With respect to Microsoft, stepping down from the board in no way means stepping away from the company,” Gates said. “Microsoft will always be an important part of my life’s work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company’s ambitious goals. I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world.”