Billionaire Warren Buffett, CEO of the multinational conglomerate holding company Berkshire Hathaway (BRK.A  ), has announced his resignation from the Bill and Melinda Gates Foundation last week, relinquishing his trusteeship.

Buffett's resignation comes 2 months after Microsoft (MSFT  ) co-founder Bill Gates announced his impending divorce with his wife and Gates Foundation co-founder, Melinda French Gates. The resignation also comes as the foundation is seeking to restructure, which will be entirely dictated by Mr. Gates and Ms. French Gates with Buffett's departure.

Despite his departure, Buffett has stated that his goals are still "100% in sync" with the Gates Foundation, but that his role as a trustee had been "inactive" for some time, and stated that his physical participation was no longer required to achieve said goals. Despite the timing of Buffett's resignation, there was no mention of the divorce, nor of the foundation's restructuring.

Previously, however, it had been disclosed by Gates Foundation CEO Mark Suzman that Buffett had been in talks with the pair to discuss the fate of the Foundation amid their divorce. Unfortunately, what the future holds for the Gates Foundation still isn't entirely clear.

On Wednesday, when Buffett announced his resignation, Suzman commented that more details on the future governance of the foundation would come in July. It was previously reported by the Wall Street Journal, however, that the duo are mulling the possibility of outside directors or board members, a first for the foundation.

As many have pointed out, Buffett's letter also contains a defense of his charitable giving. The defense is hardly surprising, given the growing unpopularity of billionaires among the American public. The harsh economic reality brought by the coronavirus pandemic to the vast majority of the United States wasn't shared by the nation's top billionaires, whose wealth grew considerably despite mass unemployment and a recession. The pandemic also highlighted the considerable lack of taxes that most billionaires pay in comparison to average Americans, causing outrage among many.