American business magnate, software developer, investor, and philanthropist, Bill Gates has stepped down from American multinational technology company, Microsoft to focus on philanthropic activities.
Gates said that he wants to focus on global health and development, education and tackling climate change issues.
The 65 year old who is one of the richest men in the word said in a Linkedin Post that
“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,” Mr. Gates wrote.
“I am looking forward to this next phase as an opportunity to maintain the friendships and partnerships that have meant the most to me, continue to contribute to two companies of which I am incredibly proud, and effectively priorities my commitment to addressing some of the world’s toughest challenges.” Gates added
According to Forbes Mr. Gates is the world’s second richest man after Amazon founder Jeff Bezos, with a net worth of $103.6bn (£84.4bn).
The father of three said that he made his fortune developing software for the personal computer.
Gates dropped out of college when he was really young and moved to Albuquerque, in New Mexico. This is where he set up Microsoft with his childhood friend Paul Allen, who later died in the 2018.
Gates has served on Berkshire’s board since the year 2004 but dedicated much of his time to The Bill & Melinda Gates Foundation, a charity organization he set up with his wife, Belinda Gates.
Mr. Bill Gates is arguably one of the largest shareholders of Microsoft Company. As of December 2020, he held more than 100M shares of Microsoft, roughly 1.3% of the Microsoft’s shares. His stock is worth approximately $16 billion. Gates said he wil remain active at the company and would work closely with the current Microsoft Chief Executive, Satya Nadella.