Melinda resigns from Bill & Melinda Gates Foundation, pockets additional $12.5 billion
Melinda French Gates has resigned from her co-chair position at the Bill & Melinda Gates Foundation and will take $12.5 billion to continue her philanthropic work focused on women and families.
Ms Gates announced her resignation on Monday in a post on X where she disclosed that “this is not a decision I came to lightly.”
“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation. My last day of work at the foundation will be June 7th,” she said in a statement on X.
Ms Gates revealed that the terms of her agreement with her ex-husband, Bill, allow her to leave with “an additional $12.5 billion to commit to my work on behalf of women and families.”
Bill Gates reacted to the resignation and said he was “sorry” to see his ex-wife leave the company that they had both built together.
“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,” Mr Gates said in a separate statement Monday on X. “Looking ahead, I remain fully committed to the Foundation’s work across all our strategies, and to realising the opportunities we have to continue improving the lives of millions around the world.”
Her resignation was not shocking, nevertheless, as Mark Suzman, the foundation’s CEO, stated in 2021 that Mr Gates would buy out Melinda should one of them want to sever ties with the other after they announced their divorce.
“If after two years either decides they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee,” CNN cited Mr Suzman as saying in 2021.
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