Bill Gates’ ex-wife Melinda to get $12.5bn for pulling out of joint-named foundation

Melinda French Gates on Monday resigned from her position as a co-chair of the Bill and Melinda Gates Foundation.

According to her by leaving the foundation she will be getting an additional $12.5 billion to commit to her work.

French Gates, who announced this on her X handle @melindagates disclosed that her last day of work at the foundation will be June 7, 2024.

This is coming three years after the Microsoft founder, Bill Gates and Melinda announced their divorce after a 27-year marriage.

On June 7, 2021, the Chief Executive Officer and Board member of the foundation, Mark Suzman announced that Melinda would resign as co-chair and trustee of the foundation if after two years either of the two concluded that they could not work together as co-chairs.

Suzman noted, “Over the past two decades, Bill and Melinda have nurtured the foundation’s growth, often referring to it as their “fourth child.” They have repeatedly made clear their joint commitment and expectation to remain long-term partners and co-chairs.

“However, as an additional step, they have agreed that if after two years either one of them decides that they cannot continue to work together, Melinda will resign as co-chair and trustee. In such a case, Melinda would receive personal resources from Bill for her philanthropic work. These resources would be completely separate from the foundation’s endowment, which would not be affected.”