Melinda Gates announced that she will leave the philanthropic foundation she created with her ex-husband Bill Gates: how much money she will receive

Melinda Gates announced that she will leave the philanthropic foundation she created with her ex-husband Bill Gates: how much money she will receive
Melinda Gates announced that she will leave the philanthropic foundation she created with her ex-husband Bill Gates: how much money she will receive

Melinda French Gates will step down as co-president of the Bill and Melinda Gates Foundation (REUTERS/Elizabeth Frantz/File Photo)

Melinda French Gates will leave her position as co-president of the Bill and Melinda Gates Foundationthe nonprofit that she and her ex-husband Bill Gates founded and grown into one of the largest philanthropic organizations in the world over the past 20 years.

“This is not a decision I made lightly,” French Gates posted on Platform X on Monday. “I am immensely proud of the foundation Bill and I built together and the extraordinary work he is doing to address inequalities around the world.”

He praised the foundation’s executive director, Mark Suzmanand to the foundation’s board of directors, which was significantly expanded after the couple announced their divorce in May 2021.

“The time is right to move forward into the next chapter of my philanthropy,” French Gates wrote in his statement. He arranges some of his philanthropic investments and donations through his organization, Pivotal Ventures, which is not a nonprofit organization.

Bill Gates thanked French Gates for her “critical” contributions to the foundations in a statement, saying, “I’m sorry to see her go, but I’m sure she will have a great impact on their future philanthropic work.”

French Gates had previously pledged to resign if one of the two decided they could no longer work together.

French Gates will receive $12.5 billion as part of his deal with Gateswhich she said would commit to future work focused on women and families.

In an emailed statement, the foundation said Suzman announced the decision to employees on Monday.

“After a difficult few years watching women’s rights regress in the United States and around the world, she wants to use this next chapter to focus specifically on altering that trajectory,” Suzman said of French Gates.

Suzman said she knew many had joined the foundation in part because of their admiration for its advocacy, especially around gender equality.

“I know how loved Melinda is here,” Suzman wrote.

French Gates will receive $12.5 billion as part of its agreement (REUTERS/Lindsey Wasson/File Photo)

French Gates, who divorced the Microsoft co-founder in 2021, said in a statement on X that she will resign as co-president of that foundation on June 7th to move “into the next episode” of her charity activity and suggested it will focus on women’s rights.

“It is a critical moment for women and girls in the United States and around the world, and those who fight to protect and promote equality need urgent support,” said the former Microsoft executive, who in 2022 already said she would stop giving most of her of his fortune to the Gates Foundation.

French Gates had previously pledged to resign if one of the two decided they could no longer work together.

“Under the terms of my agreement with Bill, upon leaving the foundation, I will have an additional $12.5 billion to give to my work on behalf of women and families,” the businesswoman added.

The Gates Foundation has 75.2 billion dollars in its endowment to December 2023 and announced in January that it planned to spend $8.6 billion over the course of its work in 2024.

(With information from AP and EFE)

 
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