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Melinda Gates to Exit Gates Foundation With $12.5 Billion

Published:

  • Melinda French Gates, the co-chair of the Gates Foundation reveals her plans to exit soon.
  • In line with her exit, Melinda will get $12.5 billion from the charitable foundation she co-founded with her ex-husband Bill Gates.
  • Melinda and Bill divorced in 2021 after staying married for 27 years.
  • She plans to commit to her charitable work for women and families following her departure from the Gates Foundation

Melinda French Gates has disclosed her exit from the Bill & Melinda Gates Foundation. She took to the X platform to disclose her exit plans on June 7, to the public.

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Notably, she co-founded the foundation with her former husband and billionaire, Bill Gates over 20 years ago.

Melinda stated: “After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation. My last day of work at the foundation will be June 7th. This is not a decision I came to lightly.

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Source: X Platform – Melinda French Gates

Melinda and Bill divorced in 2021 after staying married for 27 years. They concluded their legal divorce proceedings in a Seattle court without giving details about their agreement on marital asset division.

However, the two agreed to continue running their joint philanthropic foundation together.

Information from the foundation’s website revealed that the two have given out about $59.5 billion between 1994 and 2018.

Melinda Gets $12.5 Billion as Exit Benefit

Regarding her next activities after the exit, Melinda revealed that she would continue as a philanthropist. However, she plans to focus her charitable work on women and families.

Further, Melinda noted that she would receive a staggering $12.5 billion upon her departure. Also, she mentioned that the money would mark her exit benefit following an agreement with Bill.

She said: “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.

Reacting to his ex-wife’s exit, Bill appreciated Melinda for her contributions to the Foundation.

Also, he acknowledged how her initiatives significantly impacted the organization over the years.

Further, Bill stated: “I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.

Melinda has a net worth of about $11.2 billion, according to Forbes. She uses Pivotal Ventures, her investment and incubation firm to run her businesses and charitable works.

 

 

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