World’s second richest man, Bill Gates has stepped down from his executive role at Microsoft to focus on his philanthropy activities.
Gates with a net worth of $106.7 billion, says he to focus on philanthropy, global health, development, education and tackling climate change.
Gates had also announced he left the board of Warren Buffett’s company, Berkshire Hathaway.
The philanthropist was CEO of Microsoft until 2000 when Steve Ballmer took over the role and has held a not too active role since 2008.
“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 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.”