Melinda Gates leaves Bill & Melinda Gates Foundation in $12.5 billion agreement [Details]

Melinda Gates resigns from the Bill & Melinda Gates Foundation
She plans to focus on advancing women's rights with an additional $12.5 billion from her separation agreement with Bill Gates
The foundation will be renamed the Gates Foundation in recognition of Bill Gates Sr.

Melinda French Gates has announced her departure from the Bill & Melinda Gates Foundation, effective June 7, marking a pivotal turn in the foundation's history and her personal advocacy journey.

As co-chair, Melinda has been a transformative force, steering initiatives that significantly impacted global health and gender equality.

"This is not a decision I came to lightly. 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. I care deeply about the foundation team, our partners around the world, and everyone who is touched by its work," she said on May 13.

Her next chapter focuses keenly on advancing women's rights in the U.S. and globally, especially at a time when these rights face increasing challenges.

The announcement comes with a profound commitment from Melinda to use her considerable resources, including an additional $12.5 billion allocated from her separation agreement with Bill Gates.

Melinda GatesNathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Images Business Insider USA

She plans to forge new paths in philanthropy centered on women and families.

According to the agreement, Melinda will not be taking any of the foundation’s work with her when she leaves.

Bill Gates praised Melinda’s pivotal role in the foundation since its inception.

He credited her with shaping the foundation's vision and strategic direction, profoundly influencing global health and advocating for gender equality.

READ: Details of President Ruto's meeting with Bill Gates

Despite her departure, Bill remains optimistic about the foundation's future endeavors.

"I am sorry to see her leave, but I am sure she will have a huge impact in her future philanthropic work.

"Looking ahead, I remain fully committed to the foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world," Gates said.

Bill Gates at the World Economic Forum in Davos.Fabrice Coffrini/Getty Images Business Insider USA

Mark Suzman, the foundation’s CEO, praised Melinda's legacy of leadership and commitment, noting her role in instilling the foundation’s core values and her influence on its global impact.

Suzman reassured partners and beneficiaries of the foundation's commitment to reducing global inequities and improving millions of lives through innovative health and poverty-reduction initiatives.

In recognition of the foundational contributions by both Bill Gates Sr. and Melinda, the foundation will be renamed the Gates Foundation.

This rebranding reflects both a tribute to past contributions and a reaffirmation of the foundation’s ongoing mission under Bill Gates's sole chairmanship.

As the Gates Foundation approaches its 25th anniversary, it is poised to increase its annual charitable output to $9 billion, focusing on critical areas such as maternal health, child mortality, disease eradication, and economic empowerment for women.

Bill & Melinda Gates Foundation CEO Mark Suzman Bill & Melinda Gates Foundation CEO Mark Suzman Pulse Live Kenya

These efforts underscore the foundation's strategic plan to tackle some of the most pressing global challenges.

Melinda's new venture promises to be a powerful catalyst for change, focusing on altering the trajectory of women's rights globally.

As she steps into this new role, her previous achievements and future aspirations continue to inspire those dedicated to philanthropic efforts worldwide.

Bill & Melinda Gates divorce

Melinda French Gates and Bill Gates, once a power couple in global philanthropy, announced their decision to divorce in May 2021, ending their 27-year marriage.

This announcement was surprising to many, considering their joint venture, the Bill & Melinda Gates Foundation, which has played a significant role in global health, education, and poverty alleviation.

Bill Gates and Melinda French Gates. 362fe749-5ed8-4939-bfac-425a4bc9935d

The couple declared that they would continue to work together at the foundation, despite their personal separation.

They emphasised that their shared vision for the foundation's mission and goals remained intact, and they would maintain their roles as co-chairs and trustees.

The aim was to ensure that the foundation's work would not be disrupted by their personal changes.