The biggest news has hit the tech industry. The legendary founder of Microsoft, Bill Gates is relieving himself of his positions at Microsoft and also the Warren Buffet’s Berkshire Hathaway.
During the year 2000, he stepped down as CEO of the company and also left his role as chairman of the company in 2014. Gates co-founded Microsoft in 1975 with Paul Allen, who died in 2018. Although he’ll still be somewhat involved with the company as a “technology adviser” , it’s not clear exactly how hands-on that role is, and how much of it is symbolic.
Microsoft CEO Satya Nadella said in a press that, “It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years. Bill founded our company with a belief in the democratizing force of software and a passion to solve society’s most pressing challenges. And Microsoft and the world are better for it. The board has benefited from Bill’s leadership and vision”
Even though he is leaving Microsoft, Gates is still one of Microsoft’s top shareholders, currently owning 1.36 percent of the company, according to FactSet.
So why is Gates leaving the company he helped found?
As we all might expect, to spend more time on his philanthropic efforts as part of the Bill & Melinda Gates Foundation. The foundation is aimed at addressing issues related to global health, education, and climate change.
Recently, the Bill & Melinda Gates Foundation has helped play a role in developing a vaccine for the COVID-19 outbreak, commonly known as coronavirus. The foundation has contributed up to $50 million to the COVID-19 Therapeutics Accelerator, which is working with the World Health Organization to stop the spread of the virus.
Even though this news may seem a big blow to Microsoft and the tech industry, it also for the best.