Bill Gates’ ex-wife, Melinda French Gates has announced that she would step down as co-chair of the Bill & Melinda Gates Foundation.
The foundation is one of the world’s biggest private charitable foundations and Melinda co-founded it with her estranged husband more than 20 years ago.
With her departure set to take effect on June 7, it leaves her ex-husband, Microsoft co-founder Bill Gates, as the sole chair of the foundation.
In a statement shared on social media, Melinda French Gates expressed her decision, stating,
“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation.
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“I am immensely proud of the foundation that Bill and I built together,”
Melinda wrote in her statement, adding that under an agreement with Mr Gates, she will now have an additional $ 12.5 billion for her charitable work on women and families.
Meanwhile, the statement did not provide specific reasons for her departure.
How Bill Gates Reacted To His Ex-wife, Melinda’s Resignation
Reacting to her resignation, Bill Gates thanked Melinda for her contributions to the foundation.
He said, “I want to thank Melinda for her critical contributions to the Foundation from its very beginning. As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality.
“Looking ahead, I remain fully committed to the Foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world.
“I am sorry to see Melinda leave, but I am sure she will have a huge impact on her future philanthropic work.
“Our foundation team is incredibly strong and deeply passionate about our work, and under the leadership of Mark Suzman, and a committed board of trustees, I am confident we will keep making substantial progress on our mission to create a world where every person can live a healthy, productive life.”
The Microsoft founder remains one of the world’s richest men, with a net worth of more than $130.3bn, according to Forbes. Ms Gates’ fortune is listed at $11.3bn.
The Bill & Melinda Gates Foundation
The Bill & Melinda Gates Foundation was established in 2000 through the merger of the two Gates foundations.
Guided by the belief that every life has equal value, the foundation works to help all people lead healthy, productive lives.
“In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life.
“Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of co-chairs Bill Gates and Melinda French Gates and the board of trustees,” the foundation stated on its website.
It is also one of the most powerful and influential forces in global public health, having spent more than $50bn over the past two decades to bring a business approach to combating poverty and disease.
They have infused funds into projects including transforming agriculture technology to aid poverty and hunger as well as extensive health care efforts to fight diseases like Aids, tuberculosis, and malaria.
The Gates Foundation holds $75.2 billion in its endowment as of December 2023 and announced in January, that it planned to spend $8.6 billion through the course of its work in 2024.
What You Should Also Know
Billionaire benefactors Bill and Melinda Gates, co-founders of one of the world’s largest private charitable foundations, filed for divorce in 2021 after 27 years of marriage in 2021.
They pledged to continue their philanthropic work together but said at the time they would undertake a trial period through 2023 to determine whether they would continue to co-manage the charitable foundation.
In 2015, Melinda Gates founded the investment company Pivotal Ventures, a separate entity from the Gates Foundation, which focuses on removing barriers to opportunity for women and minority groups.
As of May 2024, Melinda French Gates is worth $13.3 billion, according to the Bloomberg Billionaires Index.
