Melinda Gates announces departure from Bill & Melinda Gates Foundation
What's the story
Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation, has announced her departure from the organization. Her official exit is scheduled for June 7, as she plans to continue her philanthropic work independently. As part of a deal with ex-husband Bill Gates, she will receive $12.5 billion for her future charitable endeavors, separate from the foundation's endowment.
Reflective statement
French Gates reflects on foundation's achievements
Melinda expressed immense pride in the foundation she built with Bill, lauding its work to address global inequalities. She stated, "I am immensely proud of the foundation that Bill and I built together, and of the extraordinary work it is doing to address inequalities around the world." Post-departure, her focus will be on programs benefiting women and families. The couple divorced in 2021 but agreed to continue their joint philanthropic efforts for two years.
Continuity
Gates Foundation's leadership and focus
The foundation's CEO, Mark Suzman, had previously stated that if French Gates decided to leave, she would receive "personal resources from Bill for her philanthropic work" separate from the foundation's endowment. The present executive leadership team and board of trustees will continue in their positions. Upon Melinda's departure, the organization will be renamed as the Gates Foundation with Bill serving as its sole chairperson.
Future plans
Melinda's future philanthropic endeavors
Bill Gates expressed his confidence in Melinda's future philanthropic impact, stating, "I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work." French Gates also runs Pivotal Ventures, a charity focused on empowering women and advocating for paid family leave. She has collaborated with prominent philanthropist MacKenzie Scott through Pivotal Ventures.