Melinda Gates has left the Bill and Melinda Gates Foundation, but she is receiving a very large amount of money under the terms of the agreement with her ex-husband.
The 59-year-old revealed she would receive $12.5 billion as part of the deal with the Microsoft founder, who is also the father of her three children.
Melinda said the move was part of her transition to “the next chapter of my philanthropy” in a statement on X.
“After careful consideration and consideration, I have decided to step down from my role as co-chair of the Bill & Melinda Gates Foundation,” the statement read. ‘My last working day at the foundation is June 7.’
With a combined fortune of $130 billion at their peak, the Gates were among the richest couples in the world until they divorced in August 2021 after Melinda said their marriage was “irretrievably broken.”
Melinda Gates has left the Bill and Melinda Gates Foundation – but will receive a very large sum under the terms of her ex-husband’s agreement
The Gates couple divorced in August 2021. (Photo: Bill and Melinda Gates in the CBS Toyota Greenroom in 2019 when they were still together)
In the photo: Bill Gates, ex-husband of Melinda Gates
The Gates Foundation is the world’s largest private charitable foundation, with an endowment of $75.2 billion as of December 2023, according to her website.
In 2015, Melinda founded her own organization, Pivotal Ventures, which aims to implement innovative solutions to issues facing American women and families.
On Monday, Melinda said she was “immensely proud” of the foundation’s “extraordinary work to tackle inequality around the world” and left it with “highly capable CEO Mark Suzman” and the rest of the leadership team.
“The time is right for me to move on to the next chapter of my philanthropy,” she added.
“This is a pivotal moment for women and girls in the US and around the world, and those fighting to protect and advance equality need urgent support.
“Under the terms of my agreement with Bill, by leaving the foundation I will have an additional $12.5 billion to deploy in my work on behalf of women and families.
‘I will tell you more about what that will look like in the near future.’
Bill and Melinda met in 1987 – the same year he became the world’s youngest billionaire at age 31.
They married in Hawaii in 1994 and have three children together: Jennifer, 25, Rory, 21, and Phoebe, 18.
It comes after Melinda was spotted wearing a statement diamond ring, sparking new romance rumors in the wake of her split from Bill.
However, last week she was seen without it for the first time as she reunited with her ex for the first time in eight months to mark their wedding. 27-year-old daughter Jennifer’s graduation from medical school.
Melinda French Gates was seen wearing a large diamond ring on her engagement finger after arriving in New York City by private helicopter
A close-up of Melinda’s ring finger gives an idea of the size of the diamond
Melinda Gates has ditched her impressive sparkler as she reunited with ex-husband Bill for the first time in eight months to mark their daughter Jennifer’s college graduation.
The 59-year-old ex-wife of Microsoft billionaire Bill, 68, was spotted strolling around New York City to mark Jennifer’s special day as she graduated from medical school
The couple released a statement at the time of their split, revealing that it wasn’t just ‘one moment’ that led to it
Bill Gates enjoyed a date night with his girlfriend Paula Hurd, widow of Oracle’s CEO, at the star-studded annual 2024 Breakthrough Prize ceremony this past weekend
She was photographed with her ex-husband in New York City on Friday to celebrate their eldest child’s achievement – with the special occasion bringing the estranged lovers together for the first time in almost a year.
Jennifer — who has applied for a residency at Mount Sinai’s pediatrics program — seemed to appreciate her parents putting tensions aside to focus on her performance as she grinned from ear to ear.
She was spotted walking into upscale eatery Marea on Manhattan’s Upper West Side with her younger sister Phoebe, 21.
Meanwhile, Bill is dating philanthropist Paula Hurd. They were last seen together at the Academy Museum for Motion Pictures in Los Angeles during a black tie event celebrating the year’s major scientific achievements.