Bill Gates' ex-wife announced her resignation from the Gates Foundation and will receive $12.5 billion for charity

Tencent Technology

2024-05-14 13:05Posted on the official account of Beijing Tencent News Technology Channel

Highlight the point

1

Melinda Gates, the ex-wife of Microsoft co-founder Bill Gates, will step down as co-chair of the Bill & Melinda Gates Foundation.
2

Melinda posted on social media that now is a "critical moment" to protect and promote women's rights around the world.
3

As part of the resignation agreement, she will receive an additional grant of $12.5 billion to continue her philanthropic efforts.

Bill Gates' ex-wife announced her resignation from the Gates Foundation and will receive $12.5 billion for charity

Tencent Technology News reported on May 14 that according to foreign media reports, on Monday local time in the United States, Melinda French Gates, the ex-wife of Microsoft co-founder Bill Gates, announced a major decision on the X platform: she will officially resign as co-chair of the Bill and Melinda Gates Foundation in June. The news has garnered a lot of attention in the global philanthropic community, especially as the Gates couple announce their divorce for nearly three years.

In a statement released by Melinda, she stressed that now is a "critical moment" to protect and promote women's rights around the world. At the same time, she also mentioned that she will receive "an additional $12.5 billion for work on behalf of women and families" due to divorce settlements and resignation decisions.

The Gates officially announced their divorce in May 2021, and since then, they have maintained a shared focus on philanthropy. In July of the same year, when their divorce was announced, they set a two-year deadline to decide whether they could continue to work together on charity. If they can't cooperate, Melinda will receive a sum of money from Gates to use for her own charity work, which is separate from the foundation's donation.

Gates expressed deep regret in a separate statement, writing: "I am saddened to see Melinda leave, but I am confident that she will continue to make a huge impact in her philanthropic work in the future." ”

After Melinda's departure, the Bill & Melinda Gates Foundation will officially change its name to the Gates Foundation, and Gates will be the sole chairman. The foundation's board of directors will also see a new structure, consisting of Gates, CEO Mark Suzman, and five other members newly appointed after the divorce.

"This is undoubtedly heavy news for me," Mr. Suzman wrote in an email to staff on Monday, "and I have great admiration for Melinda, whose contributions and dedication are an integral part of the foundation." I will miss the good times I spent working with her and learning from her. ”

Founded in 2000 by Melinda and Gates, the Gates Foundation is now one of the largest foundations in the world, with more than 2,000 employees and a cumulative giving of $75.2 billion by the end of last year. The Foundation is widely recognized for its outstanding contributions to global health, particularly in the eradication of polio, the treatment of tuberculosis, and the promotion of poverty and gender equality.

Melinda and Gates run the foundation as equal partners, each with their own areas of interest, with Gates leaning towards medicine and Melinda focusing on gender equality. To date, Melinda and Gates have donated $59.5 billion to the foundation, while Warren Buffett, who stepped down as trustee of the Gates Foundation in 2021, has donated $39.3 billion to the foundation.

At the end of 2021, Melinda published her giving pledge, saying she would donate most of her wealth to a variety of charitable causes, not just the Gates Foundation, including Pivotal Ventures, a company she founded in 2015, which provides grants and investments. However, Melinda did not elaborate on Monday how she would continue her philanthropic work.

Melinda has chosen an independent path in philanthropy, and she will join MacKenzie Scott, the ex-wife of Amazon co-founder Jeff Bezos, who is also completely separate her philanthropy from her ex-husband's. Not only that, but Melinda also partnered with Scott through Pivotal Ventures, which she founded in 2015.

One of Pivotal Ventures' goals is to advance gender equality, including increasing the number of women in the tech industry and the number of women running for office. The company has invested hundreds of millions of dollars in organizations across the U.S. to eliminate gender inequality. In 2019, Melinda pledged $1 billion through Pivotal Ventures to invest in gender equality.

Melinda has a rich academic background and professional experience. She holds a bachelor's degree in computer science and economics and a master's degree in business administration from Duke University. During his 10 years at Microsoft, where he met and fell in love with Gates. After that, she chose to leave Microsoft to focus on family and philanthropy. The marriage lasted more than 25 years.

The Gates separated in 2021, when the media's first revelations about Gates' relationship with Jeffrey Epstein, a discredited financier and convicted sex offender, came to media exposure. It is reported that the exposure of this relationship became one of the catalysts for the breakdown of Melinda and Gates' marriage, and she began to meet with divorce lawyers in 2019.

According to the Bloomberg Billionaires Index, the 68-year-old Gates has a net worth of about $152.6 billion, ranking fifth in the world, while Melinda has a fortune of $13.3 billion.

Here's Melinda's full statement:

After much deliberation, I have finally decided to step down as co-chair of the Bill & Melinda Gates Foundation, and my last day at the Foundation will be June 7.

This decision was not made lightly. I couldn't be prouder of the foundation Bill and I co-founded and the extraordinary work it does to address global inequality. I am filled with deep gratitude and respect for the Foundation's team, our partners around the world, and everyone who has been touched by the Foundation's work.

I chose to leave at this time because I firmly believe that the Foundation is in a stable and strong state. Under the leadership of the talented CEO Mark Suzman and the executive leadership team, and with the support of an experienced Board of Directors, the Foundation will continue its important work. However, I also realized that it was time to enter a new phase of my philanthropy.

This is truly a critical moment for women and girls in the United States and around the world, and their efforts to fight for equality are in dire need of our support. Under the terms of my agreement with Bill, I will receive an additional $12.5 billion for philanthropy for women and families when I leave the foundation. I will be sharing more about my plans and vision for the future with you in the near future.

Here is the full text of Gates' statement:

I would like to express my sincere gratitude to Melinda for her significant contribution to the Foundation's development since its inception. As co-founder and co-chair, Melinda has played an integral role in shaping our strategy and driving initiatives that have had a profound impact on global health and gender equality.

As I look to the future, I remain steadfast in supporting all of the Foundation's strategic work and committed to our goal of improving the lives of millions of people around the world.

I'm sad to see Melinda leave, but I'm confident she will continue to make a huge impact in her future philanthropic work.

Our Foundation team is strong and passionate about what we do. Under the distinguished leadership of Mark Suzman, and supported by a committed, visionary Board of Directors, I am confident that we will continue to make substantial progress on our mission to create a world where everyone can live a healthy, productive life." (Compiler/Golden Deer)

View original image 277K