Bill and Melinda Gates Foundation was set up in 2000 in order to help people in living a healthy and productive life – in developing countries.
Bill Gates-Melinda Gates divorce: Billionaire couple’s USD 74 billion bombshell
Microsoft founder Bill Gates and his now-estranged wife Melinda Gates, on Friday, made a USD 74 billion bombshell announcement regarding the Bill & Melinda Gates Foundation.
According to reports, after their shocking divorce in May 2021, the foundation has now revealed that Melinda will leave the Bill & Melinda Gates Foundation in two years if she and her ex-partner are not able to work together.
It is important to note that the billionaire couple had set up the charitable foundation in 2000 in order to help people in living a healthy and productive life, most importantly in developing countries.
The Bill and Melinda Gates Foundation, so far, has committed USD 55 billion to the cause since its birth. However, leadership in the foundation is questionable since Gates’ announced their divorce in May this year.
Keeping all of this in mind, the foundation has now confirmed that both Bill and Melinda will continue as co-chairs of the foundation for two years, after which Melinda will leave if she is no longer able to work with Bill.
In a scenario where Melinda resigns, Gates will provide “personal resources” for philanthropy separate from the foundation.
In their statement, the foundation said, “Gates and French Gates are fully committed to continuing to work constructively together at the foundation to advance its program and policy objectives. However, they have also agreed to an additional step to ensure the continuity of the foundation’s work: if after two years either decide they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee.”
The Bill and Melinda Gates Foundation will also bring in new trustees to grow its perspectives and ensure sustainability and stability.
As of now, Bill and Melinda are the only trustees on the foundation, apart from investment leader Warren Buffett who had announced his plans to resign in June.