When Melinda French Gates and Bill Gates cannot work together productively, she will depart the foundation.
ByShehryar Makhdoom | Published date:
Without going into detail, Melinda French Gates and Bill Gates have said that they are getting a divorce but have not disclosed plans for working together going forward at the Bill and Melinda Gates Foundation. Offer clarification on the current situation of the foundation's finances (via The New York Times). If they both realize they cannot collaborate after two years, the foundation is prepared to see Melinda French Gates leave her role as co-chair and trustee. No one knows how they came up with that deadline.
Bill and Melinda Gates Foundation CEO Mark Suzman made the following announcement: They've agreed to provide an additional $15 billion toward the foundation's initiatives to address poverty, sickness, and unfairness, and they've approved a two-year trial period for divorce after separation. We can also report that the founder has agreed to increase the number of trustees for the charity foundation.
The extra trustees will provide new insights, guide the distribution of resources, conduct strategic orientation and maintain the foundation's stability and sustainability.
According to Suzman, "Melinda and Bill remain committed to working together on the foundation, and even if Melinda leaves after two years, she will continue to operate in the manner in which she has."
Bill would provide Melinda with personal resources to support her charity endeavours. These funds would exist independently of the foundation's endowment, which would remain unaffected.
No information is available on the size of Melinda's wealth, but her philanthropic activity should not be limited by how much she has.
Though Melinda and Bill no longer work for Microsoft, their charitable organization continues to significantly impact the world (being billionaires helps, too). The Bill and Melinda Gates Trust has lately spent a significant amount of their money in efforts to battle the COVID-19 pandemic, investing $250 million on the vaccine and other therapy development for the COVID-19 pandemic in 2020. In February, the organization committed $2.1 billion in the next five years to aid women in getting an equitable start in life and fighting disease and promoting leadership.