Microsoft co-founder Bill Gates has announced that he is stepping down from the company’s board to spend more time on philanthropic activities.
Gates, 65, has also left the board of Warren Buffett’s massive holding company, Berkshire Hathaway.
Mr Gates stepped down from his day-to-day role running Microsoft in 2008.
Announcing his latest move, Mr Gates said that he wants to focus on global health and development, education and tackling climate change. He added:
I am looking forward to this next phase as an opportunity to maintain the friendships and partnerships that have meant the most to me, continue to contribute to two companies of which I am incredibly proud, and effectively prioritise my commitment to addressing some of the world’s toughest challenges.
Gates who dropped out of college and moved to New Mexico where he set up Microsoft with his childhood friend, Paul Allen, is listed by Forbes as the world’s second-richest man after Amazon founder Jeff Bezos and is worth $103.6bn (£84.4bn).
He is, together with his wife Melinda Gates, already doing philanthropic work through their Bill & Melinda Gates Foundation.