In some surprising news, Melinda French Gates announced yesterday that she’ll be stepping down from her role at the Bill and Melinda Gates Foundation next month. After her departure, the renowned organization she co-founded with her former husband will simply be known as the Gates Foundation.
But that’s not all—French Gates revealed she’ll be bringing along an additional $12.5 billion from her ex’s coffers to fuel her own charitable endeavors, particularly focusing on initiatives “on behalf of women and families.” Although the couple divorced in 2021, they agreed to continue as co-chairs of the foundation, which boasts an impressive $75 billion endowment, for at least two more years.
With backing from the Gates fortune and notable donors like Warren Buffett, the foundation has become synonymous with billionaire philanthropy. Over the years, it has channeled over $77 billion to combat diseases, promote education, and enhance sanitation in low-income countries.
However, the divorce sent ripples through the organization, with some employees expressing concerns about Bill and Melinda’s shifting priorities, as reported by Business Insider in 2021.
On Melinda’s side of things, she founded a separate charity named Pivotal Ventures in 2015. This organization is dedicated to promoting gender equality in the US through venture capital funding and grants to nonprofits.
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