Bill, Melinda Gates to run foundation jointly after divorce
Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce. However, if after two years Gates and French Gates decide they cannot continue in their roles, French Gates will resign her positions as co-chair and trustee, The Bill and Gates Melinda Foundation announced Wednesday.
If French Gates resigns, Gates would essentially buy her out of the foundation, one of the world's largest private charitable organizations, and she would receive resources from him to do her own philanthropic work. The resources received would be separate from the foundation's endowment, according to the announcement,
To reflect their commitment to continue the Gates Foundation together, Gates and French Gates announced an additional $15 billion to the foundation's endowment. Gates Foundation CEO Mark Suzman also announced that the foundation would expand its board of trustees. Currently, only Gates and French Gates are on the board of trustees, after Berkshire Hathaway CEO Warren Buffett s resignation as trustee in June.
“Our vision for the foundation has grown over time, but it has always been focused on addressing inequity and expanding opportunity 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 vital work for years to come.”
Gate and French Gates announced in May that they were divorcing after 27 years of marriage.
“I am deeply proud of all that the foundation and its partners have accomplished over the past two decades to bring us closer to a world where everyone, everywhere has the chance to live a healthy and productive life,” said French Gates in a statement. “These governance changes bring more diverse perspectives and experience to the foundation’s leadership. I believe deeply in the foundation’s mission and remain fully committed as co-chair to its work.”
___
The Associated Press receives support from the Lilly Endowment for coverage of philanthropy and nonprofits. The AP is solely responsible for all content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.