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The Gates Foundation has appointed Zimbabwean billionaire businessman Strive Masiyiwa to its board of directors.
Masiyiwa will be joined on the board by two other new appointees: Baroness Nemat (Minouche) Shafik and businessman Thomas J. Tierney of Bain & Co.
CEO Mark Suzman made the announcement in the foundation’s inaugural annual letter.
The letter emphasizes the foundation’s efforts to combat poverty and disease, its goal of making the world a better, fairer place and its commitment to listening to diverse perspectives and deepening engagement with partners and communities where its work is focused.
“We are honored that these three deeply knowledgeable and respected individuals have agreed to join the foundation board,” Suzman said.
“Between them, they bring an incredible track record of impact across global business, philanthropy, and development, and we couldn’t be more excited to work with them,” he added.
The governance change follows Bill Gates, Sr. death’s in late 2020. As the honorary co-chair, Gate’s father was considered the guiding voice of the foundation. Warren Buffett also made the decision to step down as a trustee last year after nearly 15 years.
Since January 2020, the foundation has committed over $2 billion to the COVID-19 response.
Masyiwa, the founder of Econet Group and Liquid Intelligent Technologies, is currently worth $2.3 billion after seeing his net worth increase by $1.1 billion in 2021. He recently signed the Giving Pledge, a pledge created by Gates and Buffet urging HNWIs to give away more than half of their wealth.
The Gates Foundation has given out more than $60 billion in grants since its inception 21 years ago, with the annual payout consistently increasing year after year.
With a plus-$50 billion endowment, the foundation is uniquely positioned to continue its work fighting poverty, disease and inequity around the world.
