Tech

Founder: Gates leaves Microsoft's board of directors

Microsoft co-founder Bill Gates (64) resigns from the Group's Board of Directors. Like the software company on Friday night announced, Gates remains technical adviser for CEO Satya Nadella. Gates, who is also a board member at Warren Buffett's investment company
Berkshire Hathaway Frees intends to focus more on its philanthropic activities, according to Microsoft.

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"Microsoft will always be an important part of my life's work, and I will continue to work with Satya and technical leadership to shape the vision and achieve the company's ambitious goals."wrote Gates in a LinkedIn postin which he announced his resignation.

Gates founded Microsoft in 1975 with his childhood friend, Paul Allen. Allen died of cancer in 2018. Gates made the company one of the most powerful in the emerging personal computing industry. In 2000, he handed over the role of CEO to longtime colleague Steve Ballmer.

Windows' success has helped Gates, a dropout from Harvard University, become one of the richest people in the world with $ 104 billion. He has invested part of this wealth in his foundation and other philanthropic activities. Gates continues to be one of Microsoft's top shareholders. According to the factset, he owns 1.36 percent of the shares. The company went public in 1986 and is now one of the highest valued companies in the world with a market cap of $ 1.21 trillion.

Focus on the Bill & Melinda Gates Foundation

Gates reduced its stake in Microsoft's day-to-day operations in 2008 and focused more on the work of the Bill & Melinda Gates Foundation. When Nadella was named head of the company in 2014, Gates resigned as chairman of the board, but remained a member and technology advisor. He continued to influence strategic decisions at Microsoft.

James Whittaker, a former developer at Microsoft who left the company in 2019, said that Wall Street JournalGates continued to show up on the Microsoft campus once or twice a month. "Whatever Bill said became law"said Whittaker.

Most recently, Gates spent much of his time at Microsoft developing tools to help businesses become more productive, said S. Somasegar, former Microsoft corporate vice president of The Wall Street Journal, who left the company in 2015 and now managing director of venture capital firm Madrona Venture Group is.

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