Surprise announcement in one of the most important philanthropies in the world. Melinda Gates, co-president of the Bill and Melinda Gates Foundation for more than two decades, has announced that she will leave her position on June 7. The news comes almost three years after her divorce from Bill Gates, in 2021 after 27 years of marriage. Despite their controversial breakup, they had committed to continuing their charity work together.
In a statement shared through social networks, Melinda Gates assures that it is not about “a decision made lightly” but has “reflected and thought carefully” and what is “Immensely proud of the foundation we have built together and the extraordinary work it is doing to address inequalities around the world”.
She further adds that under the terms of her agreement with her ex-husband to leave the foundation, she will have “Additional $12.5 billion” to use in your “I work on behalf of women and families”made possible through her organization Pivotal Ventures, which she founded to promote the social progress of women.
For his part, Bill Gates has thanked the mother of his daughters for her work and dedication to the foundation: “Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality”. And he added that he remains “fully committed to the work of the Foundation in all our strategies.”
I want to thank Melinda for her critical contributions to the Foundation from its very beginning. As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality.
Looking ahead, I… https://t.co/ZEU4D2q76v
— Bill Gates (@BillGates) May 13, 2024
CEO Mark Suzman has also revealed that the Bill & Melinda Gates Foundation will change its name to the Gates Foundation after Melinda’s departure as a way to “honor Bill Sr.’s legacy and Melinda’s contributions.”
The Gates created their foundation in 2000 with an endowment of $50 billion to finance educational or environmental projects, among others. The Covid pandemic plunged the planet into a deep crisis and both Bill and Melinda contributed an extra 15 billion, destined to distribute vaccines, tests and treatment against the coronavirus.
A controversial divorce
After 27 years of marriage, three daughters together and a joint fortune of 130 billion dollars, Bill and Melinda Gates announced their breakup in 2021: “We no longer believe we can grow together as a couple. After much thought and hard work on our relationship, we have made the decision to end our marriage,” they said in a statement. What seemed like a friendly separation turned into controversy when it emerged that the Microsoft founder was being investigated for having a sexual relationship “for years” with an employee in 2000, six years after marrying Melinda.
She broke her silence in a heartbreaking interview on CBS Morning: “It wasn’t a moment or a specific thing that happened. There just came a point where I realized it just wasn’t healthy, and I couldn’t trust what we had.” . The still co-president of the foundation revealed through tears that 2021 had been the “saddest and most difficult” year of her life: “I was mourning the loss of something that I thought I had and that I thought I would have for a lifetime.”
That same year, Melinda announced that she would not donate any more money to the foundation but would distribute it to multiple charitable causes: “I recognize the absurdity of so much wealth being concentrated in the hands of a single person, and I believe that the only responsible thing that can be done is to do with a fortune of this size is to give it away, in the most careful way and with the greatest impact possible. He added: “It’s important to recognize that giving away money your family will never need is not a particularly noble act. The real bar for generosity is set by people who give even when it means giving up what they have. So, as part of “With this commitment, I pledge to do more than just sign checks. I also dedicate my time, energy and efforts to fighting poverty and promoting equality for women and girls, as well as diverse marginalized groups, in the United States and around the world.” .
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