By Ryan Chou
At the start of a new and volatile decade from an economic standpoint, another big event has happened this month: Bill Gates, once the wealthiest person in the world, has left the board of Microsoft at the age of 64. However, there does not seem to be any indication that this departure was forced.
According to a statement released by Microsoft, Gates left the board in order to pursue “his philanthropic priorities”, which is certainly a respectable decision.
His stepping down does not seem to have affected Microsoft’s stock too much. Although Microsoft’s stock has slid down by 15% since February, this unstable movement in the price can mostly be attributed to the coronavirus pandemic, which has now spread in the United States to the point where thousands of cases are present across 49 states. Hence, it is hard to tell how extensive of a financial hit Microsoft has taken as a result of Gates’ departure.
With a net worth of $99.2 billion, which is slightly lower than it used to be as a result of the COVID-19 outbreak, Gates holds the title as the second-richest man in the world.
Starting Microsoft and later getting a position on the Board of Directors as a youthful 36-year-old on March 13, 1986, Bill Gates has officially ended his long run on the Microsoft Board of Directors exactly thirty four years later. Hopefully, Microsoft will continue to make progress and innovation in the technological world.
