Melinda Gates Resigns from Gates Foundation, Launches $12.5 Billion Philanthropic Venture
Written by Deborah Oyinloye on May 14, 2024
Melinda Gates made a significant announcement on Monday, revealing her decision to step down as co-chair of the Bill & Melinda Gates Foundation, a role she has held since 2000. As part of her separation agreement from her former husband, Bill Gates, she will receive an additional $12.5 billion to pursue her charitable endeavours, with a focus on women and families.
In a statement shared on X and LinkedIn, Melinda French Gates expressed the weight of her decision, stating, “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 it is doing to address inequities around the world.”
French Gates plans to officially depart from the Bill & Melinda Gates Foundation on June 7, with more details about her future philanthropic plans to be revealed soon. She emphasized the urgency of supporting women and girls globally, stating, “This 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.”
Bill Gates, in a separate statement, expressed his support for Melinda’s decision and her contributions to the foundation’s work. He reiterated his commitment to the foundation’s mission and expressed confidence in its future endeavours.
Following Melinda’s departure, the organization will undergo a name change to the Gates Foundation, with Bill Gates assuming the role of sole chair. Mark Suzman, the foundation’s Chief Executive, confirmed the transition on Monday.
Melinda Gates’ departure from the foundation had been anticipated following her divorce from Bill Gates in May 2021. The couple had initially planned a trial period through 2023 to assess their ability to continue working together. Suzman had previously outlined a contingency plan to ensure the foundation’s continuity in the event of Melinda’s resignation.
With her newfound independence, Melinda Gates aims to launch her own philanthropic venture, building upon her experience and dedication to addressing global challenges. As a former product manager at Microsoft, she has been a driving force behind initiatives focused on women’s empowerment within the Gates Foundation.
Melinda Gates’ departure marks a significant chapter in the philanthropic landscape, as she prepares to chart her own path in making a positive impact on the world.
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Author: Deborah Oyinloye
With an interest in media, Deborah aims to impart the lives of people positively.
