Billionaire philanthropist, Melinda French Gates, has announced her resignation as co-chair of the Bill & Melinda Gates Foundation. “This is not a decision I came to lightly,” Ms. Gates expressed in a statement on Monday. Her tenure will conclude on June 7.
The foundation, which Ms. Gates co-founded in 2000 with then-husband Bill Gates, is recognized as the largest private philanthropic organization globally. Despite their separation in 2021 after 27 years of marriage, the duo continued their collaborative efforts in philanthropy. They had previously affirmed their intention to maintain their roles as co-chairs and trustees.
With an endowment exceeding $75 billion as of December, the Gates Foundation is a formidable force in public health, dedicating billions annually to combat infectious diseases, alleviate poverty, and address climate change. From 1994 to 2018, the Gates contributed over $36 billion to the foundation.
Reflecting on her time with the foundation, Ms. Gates stated, “I am immensely proud of the foundation that Bill and I built together.” She will receive an additional $12.5 billion for her charitable endeavors focused on women and families, as per an agreement with Mr. Gates.
Ms. Gates, who established Pivotal Ventures in 2015, emphasized the urgency of supporting women and girls, stating, “This is a critical moment for women and girls in the US and around the world.”
Bill Gates shared his sentiments, “I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”
As one of the wealthiest individuals globally, Bill Gates’s net worth stands at over $130.3 billion, while Melinda Gates’s fortune is estimated at $11.3 billion. Their philanthropic legacy continues to shape public health and equality initiatives worldwide.