Melinda French Gates, co-chair of the $75 billion foundation she co-ran with her former husband, Bill Gates, has announced her departure.
Her last day will be on June 7th, and as part of the agreement with her ex-husband, she will receive an additional $12.5 billion for her charitable purposes.
In her statement, French Gates, 59, expressed her confidence in the foundation’s current strength and stated that the time is right for her to move forward into the next chapter of her philanthropy.
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She emphasized that her future philanthropic endeavours will focus on women and families. Following Melinda’s departure, the foundation will be known as the Gates Foundation.
Bill Gates will assume the role of the sole chair. Despite expressing regret over Melinda’s departure, Gates also expressed his confidence in her future philanthropic work and the substantial impact she will have.
The fate of the foundation’s leadership has been uncertain since the announcement of the couple’s divorce in May 2021. However, in September 2022, French Gates reaffirmed her commitment to the foundation and working with her ex-husband.
— Melinda French Gates (@melindagates) May 13, 2024
Melinda French Gates also has her charity, Pivotal Ventures, which she established in 2015.
Pivotal Ventures has made significant investments in over 150 organizations, focusing on empowering women in various spheres, including technology and public office. Notably, it has advocated for paid family leave, among other initiatives.
Bill Gates, the former CEO and co-founder of Microsoft Corp., is currently the world’s fifth-richest person, while French Gates is worth $13.3 billion.
Following her departure, the foundation’s board will consist of Gates, CEO Mark Suzman, and five other individuals appointed in the years following the divorce.
Mark Suzman, the CEO, expressed his admiration for Melinda and his deep appreciation for the opportunity to work with and learn from her, in an email to the foundation’s employees.
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