Melinda Gates quits Gates Foundation; gets $12.5 billion to pursue philanthropic work on her own
Announcing her resignation from the influential foundation that she and her husband had founded, Melinda Gates said that the new chapter in her philanthropic work will focus on women and families
Melinda French Gates created a stir when she announced on Monday (May 13) that she has resigned as co-chair of the Bill & Melinda Gates Foundation, the influential non-profit that she and her ex-husband Bill Gates, had founded.
Making the announcement on X (former Twitter), Melinda said that she had not arrived at this decision lightly but after ‘careful thought and reflection’. “My last day of work at the foundation will be June 7," she posted.
Further, Melinda Gates announced that under the terms of her agreement with Bill Gates, she will receive an additional $12.5 billion to further her philanthropic work focusing on women and families.
“This is a critical moment for girls and women in the US and around the world – and those fighting to protect and advance equality are in urgent need of support,” she pointed out, and promised to share more details of what her work for women and families will be in the future.
The foundation is one of the largest philanthropic organisations working in global public health, having spent more than $50 billion over the past two decades to bring a business approach to combating poverty and disease.
Next chapter of philanthropy
Melinda also wrote that she did not make this decision ‘lightly’, adding that the time is right for her to move forward into the next chapter of her philanthropy.
Notably, after their divorce in 2021, the couple had said they intended to continue leading the organisation together on a two-year trial basis.
Meanwhile, the foundation's CEO Mark Suzman said that the name of the foundation will change to the Gates Foundation "to honor Bill Sr's legacy and Melinda's contributions". Bill "will become the sole Chair of the foundation", he added.
Bill Gates
In his post on X, Bill Gates said that he is ‘sorry to see Melinda leave’, but he is sure she will have a huge impact in her future philanthropic work
He commended her efforts and expressed gratitude for her “critical contributions” to the foundation.
Mark Suzman said in a statement that Melinda has "new ideas about the role she wants to play in improving the lives of women and families in the US and around the world. And, after a difficult few years watching women's rights rolled back in the US and around the world, she wants to use this next chapter to focus specifically on altering that trajectory".