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 own work to uplift women and families, she said on Monday, reports Reuters.
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.
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