Home > Media News > Melinda Gates to exit Gates Foundation with $12.5 bln for own charity work

Melinda Gates to exit Gates Foundation with $12.5 bln for own charity work
14 May, 2024 / 04:30 AM / OMNES Media LLC

Source: http://www.reuters.com

457 Views

(Reuters) - Melinda French Gates is leaving the charitable foundation she co-founded with former spouse Bill Gates more than 20 years ago and will get $12.5 billion for her work to uplift women and families, she said on Monday.

The billionaire benefactors parted ways in 2021 after 27 years of marriage but had pledged to continue their philanthropic work together. Their final divorce order filed in a Seattle court had no details on an agreement reached between the two on how to divide their marital assets.

"Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families," Melinda Gates said on social media platform X, without disclosing more details about her plans.

With her departure as co-chair, the foundation will change its name to Gates Foundation and Bill Gates will be its sole chairperson, said CEO Mark Suzman.

"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," Suzman said.

The foundation is one of the most powerful and influential forces in global public health, having spent more than $75 billion since its inception to bring a business approach to combating poverty and disease.

Big tech will invest big in France.

From 1994 through 2018, Bill and Melinda gifted about $59.5 billion to the Seattle-based foundation, its website said.

Her last day at the foundation will be June 7.

"I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work," Microsoft (MSFT.O), co-founder Bill Gates said in a post on X.

Melinda Gates, who has a net worth of $11.3 billion according to Forbes, manages some of her investments and charitable work through her Pivotal Ventures. The investment company, founded in 2015, focuses on women and families. 


Related News

Recommended Articles

Ishaq Dar to visit China next week for strategic dialogue

Biden-Netanyahu relationship is strained like never before. Can the two leaders move forward?

No backtracking on tax net expansion: Aurangzeb

Four suspected terrorists killed in Lahore police encounter

Why the US suspended a shipment of 2,000-pound bombs to Israel?

PIA flight delayed at Dubai airport after reports of smoke from plane




Latest News




Recommended News

Schengen in the Arabian Desert -- GCC single visa is coming soon

Identity crisis: Climate destroying wonders that gave US parks their names

Afghanistan floods devastate villages, killing 315

Big drop in Pakistan fuel prices expected -- over Rs12 for petrol and Rs8 for diesel


Latest Shows

Peyam-E-Subh

Mazaq Raat

Dunya Kamran Khan Kay Sath

On The Front

Nuqta E Nazar

Peyam-E-Subh

Mazaq Raat

Dunya Kamran Khan Kay Sath

On The Front

Nuqta E Nazar

Peyam-E-Subh




Must Watch

PM Shehbaz quits as PML-N president

Army Chief Asim Munir Important Message

Big drop in Pakistan fuel prices expected -- over Rs12 for petrol and Rs8 for diesel

Stock market gains 470 points

AJK protest over inflation enters fourth day as negotiations end in deadlock

Dar arrives in Beijing to co-chair strategic dialogue with Chinese counterpart

Hot weather likely to prevail in Karachi today

International Mother's Day is being celebrated. Worldwide today including Pakistan

Rain and duststorm bring mercury down in Lahore, Met Office forecasts more downpour

AJK prime minister offers olive branch as AAC-led protest enters third day

Download Dunya App

Dunya News

English

Urdu

Programs

videos

Video Headlines

Coronavirus

PSL 7

Newspaper

Follow Us

Links

Blogs

الیکشن 2024 عوامی رائے

کون سی جماعت الیکشن 2024 میں اکثریت حاصل کرے گی ؟

 

Tags