Melinda French Gates resigns as Gates Foundation co-chair
The Hindu
Melinda French Gates steps down from Gates Foundation, focusing on future philanthropy work with $12.5 billion commitment.
Melinda French Gates will step down as co-chair of the Bill & Melinda Gates Foundation, the nonprofit she and her ex-husband Bill Gates founded and built into one of the world's largest philanthropic organizations over the past 20 years.
“This is not a decision I came to lightly,” French Gates posted on the X platform on Monday. “I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world.”
She praised the foundation's CEO, Mark Suzman, and the foundation's board of trustees, which was significantly expanded after the couple announced their divorce in May 2021.
“The time is right for me to move forward into the next chapter of my philanthropy,” French Gates wrote in her statement. She already organizes some of her investments and philanthropic gifts through her organisation, Pivotal Ventures, which is not a nonprofit.
Bill Gates thanked French Gates for her “critical” contributions to the foundation in a statement, saying, “I am sorry to see her leave, but I am sure she will have a huge impact in her future philanthropic work.”
The foundation will change its name to the Gates Foundation, a spokesperson said.
French Gates will receive $12.5 billion as part of her agreement with Gates, which she said would commit to future work focused on women and families. The foundation said that Gates would supply those funds personally, not from the foundation's endowment.
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