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BILL GATES EX-WIFE MELINDA RESIGNS AS CO-CHAIR OF GATES FOUNDATION 3YRS AFTER THEIR DIVORCE, -GETS $12.5B COMPENSATION

She will receive an additional $12.5 billion to continue her charitable work outside of the foundation, according to the divorce agreement.

Melinda French Gates has resigned from her position as the co-chair of the Bill and Melinda Gates Foundation (BMGF) effective from June 6, 2024. She will receive an additional $12.5 billion to continue her charitable work outside of the foundation, according to the divorce agreement she had with her ex-husband, Bill Gates. The resignation comes three years after the couple ended their marriage of 27 years but agreed to keep working together as co-chair of the foundation. On the latest development, Melinda made a statement shared across her social media accounts... “I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world. I am taking this step with full confidence that the foundation is in strong shape, with its extremely capable CEO Mark Suzman, the Executive Leadership Team, and an experienced board of trustees in place to ensure all its important work continues. The time is right for me to move forward into the next chapter of my philanthropy,” she added.

As of May 2024, Melinda French Gates is worth $13.3 billion, according to the Bloomberg Billionaires Index.

In 2015, she founded Pivotal Ventures to “accelerate social progress in the United States by removing barriers that hold people back”. The organisation acts as an incubator for women’s businesses. French Gates, who has continuously worked towards gender equality across the world, said now is a critical time to do more.

“This is a critical moment for women and girls in the U.S. and around the world, those fighting to protect and advance equality are in urgent need of support. Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families. I’ll be sharing more about what that will look like in the near future.” -Melinda said.

Bill and Melinda Gates founded the Gates Foundation in 2000 to reduce inequalities and make life better for people across the world. Then, the Gates decided to transfer $20 billion of Microsoft stock to the Foundation, and have spent more than $53 billion supporting various causes across the world — from public health to poverty reduction to gender equality.

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