Melinda French Gates, the billionaire ex-wife of Microsoft co-founder Bill Gates, announced on Monday that she is stepping down from her role as co-chair of the Bill and Melinda Gates Foundation. She said that she will receive 12.5 billion dollars to use for her own charitable purposes as part of her agreement with her ex-husband.
In a statement, Melinda said that her last day of work at the foundation will be June 7.
“This is not a decision I came to lightly. I am immensely proud of the foundation that Bill and I built together and of the extraordinary work,” Melinda Gates said in a statement. “I care deeply about the foundation team, our partners around the world, and everyone who is touched by its work.
She added that she is taking the decision with full confidence as the foundation remains strong under CEO Mark Suzman, the executive leadership team and an experienced board of trustees.
“I am taking this step with full confidence that the foundation is in strong shape, with its extremely capable CEO Mark Suzman, the Executive Leadership Team, and an experienced board of trustees in place to ensure all its important work continues. The time is right for me to move forward into the next chapter of my philanthropy,” she wrote.
Melinda further said that it is a critical moment for women and girls in the US and around the world — and those fighting to protect and advance equality are in urgent need of support.
“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. I’ll be sharing more about what that will look like in the near future,” she wrote.
The Bill and Melinda Gates Foundation is a non-profit fighting poverty, disease, and inequity around the world. It was launched in 2000 and is considered to be one of the biggest charitable foundations in the world.
Melinda French Gates parted her ways with Bill Gates after 27 years of marriage. The couple’s divorce was officially formalised nearly three months after announcing their separation in August 2021.
‘Thank Melinda for her critical contributions,’ says Bill Gates
In a separate statement on Monday, Bill Gates thanked Melinda for her critical contributions to the Gates Foundation from its very beginning.
He said that Melinda has been instrumental in shaping the foundations’ strategies and initiatives, significantly impacting global health and gender equality.
“Looking ahead, I remain fully committed to the Foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world,” Bill Gates wrote in statement. “I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”
He added: “Our foundation team is incredibly strong and deeply passionate about our work, and under the leadership of Mark Suzman, and a committed board of trustees, I am confident we will keep making substantial progress on our mission to create a world where every person can live a healthy, productive life.”
