Warren Buffett resigns from Gates Foundation, donates $4.1 billion

Warren Buffett said he is stepping down from his role with the Bill and Melinda Gates Foundation, noting in a statement that he has been an "inactive" trustee of the organization. His decision to step down comes at an uncertain time for the foundation as the Gates last month announced they are divorcing after 27 years of marriage.

"For years I have been a trustee — an inactive trustee at that — of only one recipient of my funds, the Bill and Melinda Gates Foundation (BMG)," Buffett wrote in the statement. "I am now resigning from that post, just as I have done at all corporate boards other than Berkshire's," or Berkshire Hathaway, the company which Buffett helms. The 90-year-old billionaire on Wednesday also said he has given away $4.1 billion's worth of Berkshire Hathaway shares as part of his goal to donate 99% of his fortune. With the most recent donation, Buffett said he is "halfway there," and he shared his thoughts on wealth and philanthropy in the statement.