Warren Buffett to resign

New York: Warren Buffett said on Wednesday he is resigning as a trustee of the Bill and Melinda Gates Foundation while making a $4.1 billion donation to the organisation as well as four others.

The 90-year-old business magnate did not give a reason for the resignation, which comes about seven weeks after Bill and Melinda Gates announced their divorce. Buffet, whose wealth is currently estimated by Forbes at $104.4 billion, signaled continued support for the Gates Foundation in a statement. "My goals are 100 percent in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals," he said in a statement from his company, Berkshire Hathaway.

"For years I have been a trustee -- an inactive trustee at that -- of only one recipient of my funds," Buffett said. "I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s." Buffett said his latest donations are in line with a 2006 pledge to distribute all of his Berkshire stock to philanthropy.