Microsoft has announced Bill Gates is leaving the board and stepping down from his position on the board of Berkshire Hathaway to spend time on philanthropic activities.

"I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change," Gates, one of the richest men in the world, wrote on LinkedIn.

"The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step."

"With respect to Microsoft, stepping down from the board in no way means stepping away from the company," Gates said.

"Microsoft will always be an important part of my life's work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company's ambitious goals. I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world."

Gates co-founded Microsoft in 1975 with Paul Allen, who died in 2018. Gates was CEO until 2000 when Steve Ballmer took over the role.