Melinda Gates is actually leaving Bill and Melinda Gates Foundation

Melinda French Gates announced on Monday that she will be leaving the Bill and Melinda Gates Foundation she co-founded with her former spouse, Bill Gates, over 20 years ago. As part of the agreement, she will receive $12.5 billion to support her own initiatives aimed at empowering women and families. The couple, who ended their 27-year marriage in 2021, had initially planned to continue their philanthropic work together.

However, the details of how their marital assets would be divided were not disclosed in the final divorce order filed in a Seattle court. Melinda Gates shared the news on social media platform X, but did not provide further information about her future plans. In light of her departure, the foundation will be renamed the Gates Foundation, with Bill Gates assuming the role of sole chairperson. Mark Suzman, the CEO, stated that Melinda Gates intends to focus on addressing the setbacks faced by women’s rights in recent years.

The foundation, known for its significant impact in global public health, has invested over $75 billion since its establishment in combating poverty and disease using a business-oriented approach. According to the foundation’s website, Bill and Melinda Gates had contributed approximately $59.5 billion to the organization from 1994 to 2018.

Melinda Gates’ final day at the foundation is scheduled for June 7. Bill Gates, the co-founder of Microsoft, expressed his regret over her departure but also expressed confidence in her ability to make a significant difference in her future philanthropic endeavors in a post on X.

Melinda Gates, with a net worth of $11.3 billion as reported by Forbes, oversees a portion of her investments and charitable activities through Pivotal Ventures. This investment firm, established in 2015, is dedicated to supporting women and families.