Warren Buffett resigns as trustee of the Bill and Melinda Gates Foundation and announces the donation of an additional $ 4.1 billion to 5 charities. The finance guru then made it known that he had thus reached a historic milestone: Buffett has donated half of his wealth, estimated by Forbes at $ 105.3 billion. “Today is a milestone for me. In 2006 I pledged to distribute all of my Berkshire Hathaway shares, which represent over 99% of my wealth, to philanthropy. With the latest donation I am now halfway there, ”added the Oracle of Omaha, who has become famous for his nose for investments.
The reasons for the Oracle of Omaha
The 90-year-old billionaire explained that the step back is in line with the decision to gradually abandon positions on the boards of directors with the exception of that of the colossal Berkshire Hathaway, one of the largest groups in the world. “For years – he said – I was a trustee. Now I am resigning from office as I have done with all the other boards aside from Berkshire. ‘ The timing, however, writes the international press, raises many doubts. The reputation of the Gates foundation, one of the richest and most influential in the world, has recently been tarnished by the divorce between Bill and Melinda and rumors about the reasons for the breakup. Rumors include Gates’ conduct in the workplace and relations with Jeffrey Epstein, the millionaire accused of child trafficking and who committed suicide in prison.
In announcing the farewell from the Gates foundation and the historic milestone of his donations, Buffett also commented on the shocking revelations of ProPubblica, which spread the taxes paid by American scroungers, including the finance guru. The Oracle of Omaha paid 23.7 million in taxes between 2014 and 2018, a time frame in which its wealth has risen by 24 billion. Buffett explains that tax breaks on charitable donations have saved him 40 cents per thousand dollars in taxes. And, while stressing that the relief on philanthropy is important for the rich, he argues that “it is correct that Congress periodically reviews the tax policy on charitable donations.”