Melinda French Gates resigns as co-chair of the Gates Foundation, 3 years after her divorce from Bill Gates

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“I am immensely proud of the foundations Bill and I have built together and the extraordinary work they are doing to combat inequality around the world. »

By THALIA BEATY, Associated Press

May 13, 2024 | 2:31 p.m.

NEW YORK (AP) — Melinda French Gates will step down as co-chair of the Bill & Melinda Gates Foundation, the nonprofit organization she and ex-husband Bill Gates founded and grew into one of the largest philanthropic organizations around the world over the past 20 years. .

“This is not a decision I made lightly,” French Gates posted Monday on the X platform. “I am immensely proud of the foundations that Bill and I have built together and the extraordinary work they are doing to fight inequality in the world. »

She praised the foundation’s CEO, Mark Suzman, and the foundation’s board of directors, which was significantly expanded after the couple announced their divorce in May 2021.

“The time has come for me to move forward into the next chapter of my philanthropy,” French Gates wrote in his statement. She arranges some of her investments and philanthropic giving through her organization, Pivotal Ventures, which is not for profit.

Bill Gates thanked French Gates for her “critical” contributions to foundations in a statement, saying: “I’m sorry to see her go, but I’m sure she will have a huge impact in her future philanthropic work.” »

French Gates will receive $12.5 billion as part of her deal with Gates, who she said will engage in future work focused on women and families.

The Gates Foundation did not immediately respond to a request for comment on whether these assets would come from the foundation itself. In an emailed statement, the foundation said Suzman announced the decision to employees on Monday.

“After a difficult few years where women’s rights have gone backwards in the United States and around the world, she wants to use this next chapter to focus specifically on changing that trajectory,” Suzman said of French Gates.

Suzman said he knows many have joined the foundation in part because of their admiration for its advocacy, particularly for gender equality.

“I know how much Melinda is loved here,” Suzman wrote.

The Gates Foundation held $75.2 billion in endowment as of December 2023 and announced in January that it planned to spend $8.6 billion over the course of its 2024 work.

The Associated Press receives financial support for news coverage in Africa from the Bill & Melinda Gates Foundation and for news coverage of women in the workforce from Pivotal Ventures.

Associated Press coverage of philanthropy and nonprofits receives support from the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.