Buffett’s Out
Warren Buffett is one of the famous investors of all time, if not the most famous. He is known for his value investing principles as well as his immense success as an investor and founder of Berkshire Hathaway. Another billionaire that is very well known is Bill Gates, so what do the two have in common? Well other than being rich they are very good friends. In fact, according to business insider Bill Gates and Warren Buffett have been best friends for almost 30 years. Initially, they weren’t interested in meeting each other — but they hit it off right away.
They’ve partnered on political and philanthropic ventures and mentored each other along the way. And to mark Buffett’s 90th birthday, Gates wrote in a blog post that, “of all the things I’ve learned from Warren, the most important thing might be what friendship is all about.” Clearly the two are good pals!
Recently, however, Warren Buffett stepped down from his position as a trustee in the Bill and Melinda Gates foundations. Buffett specifically said: “I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s,” This comes at an already shaky time as Bill and Melinda Gates recently underwent a divorce – giving a need to discuss changes to the structure of their foundation.
The reasoning for Buffett’s departure comes as nothing particularly new because according to Buffett, he was already an “inactive trustee” for years at the foundation, to which he contributes funds. What do you think about Buffett’s departure? And will the foundation still be as strong as it was before?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
