In a significant development, Melinda French Gates has announced her departure from the charitable foundation she co-founded with her former husband, Bill Gates, more than twenty years ago. This move marks a new phase in her philanthropic journey, as she will also receive $12.5 billion for her efforts to support women and families.
Despite their divorce in 2021 after 27 years of marriage, the billionaire benefactors have remained steadfast in their commitment to philanthropy. Their final divorce order, filed in a Seattle court, did not detail an agreement reached between the two on how to divide their marital assets, further highlighting their shared dedication to their charitable endeavors.
With her departure from the foundation, Melinda Gates will have an additional $12.5 billion to commit to her work on behalf of women and families. While she has not yet disclosed specific details about her plans, this significant financial resource is expected to fuel her future philanthropic initiatives.
CEO Mark Suzman announced that the foundation will become the Gates Foundation and that Bill Gates will serve as its only chair after her co-chair's departure.
Did you read this?
"After a difficult few years watching women's rights rolled back in the U.S. and around the world, she wants to use this next chapter to focus specifically on altering that trajectory," Suzman said.
Since its founding, the foundation has spent more than $75 billion to bring a business approach to combating poverty and diseases, making it one of the most potent and influential forces in global public health.
According to its website, the Seattle-based foundation received a gift of approximately $59.5 billion from Bill and Melinda between 1994 and 2018.
June 7 is her last day at the foundation.
"I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work," Microsoft (MSFT.O) co-founder Bill Gates said in a post on X.
According to Forbes, Melinda Gates's net worth is $11.3 billion. She manages some of her investments and charitable work through Pivotal Ventures, an investment company founded in 2015 that focuses on women and families.
