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Bill, Melinda Gates to jointly run foundation after divorce


Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce

NEW YORK – Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce. However, if Gates and French Gates decide after two years that they cannot continue in their roles, French Gates will resign from his positions as co-chairman and trustee, The Bill & Gates Melinda Foundation said on Wednesday. declare.

If French Gates resigns, Gates will essentially buy her from the Foundation, one of the largest private charitable organizations in the world, and she will receive resources from him to do her own philanthropic work. Resources received will be separate from the Foundation’s endowment, pursuant to the announcement,

To demonstrate their commitment to continuing the Gates Foundation together, Gates and French Gates announced an additional $15 billion for the Foundation’s endowment. Mark Suzman, CEO of the Gates Foundation, also announced that the foundation will expand its board of trustees. Currently, only Gates and French Gates are on the board of trustees, following the resignation of Berkshire Hathaway CEO Warren Buffett as trustees in June.

“Our approach to the Foundation has evolved over time, but it has always been focused on addressing inequality and increasing opportunities for the world’s poorest people,” Bill Gates said in a statement. “These new resources and the evolution of the Foundation’s governance will sustain this ambitious mission and important work for years to come.”

Gates and French Gates announced in May that they were divorcing after 27 years of marriage.

French Gates said in a statement, “I am extremely proud that the Foundation and its partners have over the past two decades managed to bring us closer to a world where everyone has the opportunity to lead a healthy and productive life.” have a chance.” “These governance changes bring a more diverse perspective and experience to the foundation’s leadership. I believe deeply in the foundation’s mission and am fully committed to its work as co-chair.”

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The Associated Press receives support from the Lilly Endowment for its coverage of philanthropy and nonprofits. AP is solely responsible for all content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.

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