Melinda French Gates has announced her departure from the Bill & Melinda Gates Foundation, the philanthropic organization she co-founded with her former spouse Bill Gates over 20 years ago. As part of their divorce settlement, Melinda will receive $12.5 billion to focus on her own charitable endeavors supporting women and families.
The couple, who ended their 27-year marriage in 2021, had pledged to continue their philanthropic work together but have now decided to part ways in their charitable efforts.
Melinda Gates expressed her intention to use this significant funding to uplift women and families, particularly after witnessing setbacks in women’s rights globally. She emphasized a desire to alter this trajectory in her next philanthropic chapter.
With her departure, the foundation will be renamed the Gates Foundation, and Bill Gates will become its sole chairperson. This transition marks a pivotal moment for both individuals and the organization they built together.
Melinda Gates, known for managing investments and charitable work through her entity Pivotal Ventures, has a net worth of $11.3 billion according to Forbes. Pivotal Ventures, founded in 2015, focuses on empowering women and families, aligning closely with her future philanthropic goals.
Bill Gates expressed regret at seeing Melinda leave the foundation but acknowledged her potential to make a profound impact in her future endeavors.
The Bill & Melinda Gates Foundation, now transitioning to the Gates Foundation, remains one of the world’s largest private foundations with an $8.6-billion budget for 2024. Melinda’s departure will reshape the leadership structure, with Bill Gates assuming sole chairmanship.
Melinda Gates’s departure signals a new phase in her philanthropic journey, dedicated to advancing the rights and opportunities of women and families globally.
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