Melinda French Gates has resigned from her position as the co-chair of the Bill and Melinda Gates Foundation (BMGF) effective from June 6, 2024.
According to her by leaving the foundation she will be getting an additional $12.5 billion to commit to her work.
In a statement issued on Monday through her X handle, she said: “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 said in a statement shared across her social media accounts.
“I am taking this step with full confidence that the foundation is in strong shape, with its extremely capable CEO Mark Suzman, the Executive Leadership Team, and an experienced board of trustees in place to ensure all its important work continues.”
This is coming three years after the Microsoft founder, Bill Gates and Melinda announced their divorce after a 27-year marriage.
“The time is right for me to move forward into the next chapter of my philanthropy,” she added.
As of May 2024, Melinda French Gates is worth $13.3 billion, according to the Bloomberg Billionaires Index.
In 2015, Melinda French Gates established Pivotal Ventures with the aim of “accelerating social progress in the United States by removing barriers that hold people back” and acting as an incubator for women’s businesses.
With a consistent dedication to advancing gender equality globally, French Gates emphasized the urgency of supporting women and girls, stating, “This is a critical moment for women and girls in the U.S. and around the world, those fighting to protect and advance equality are in urgent need of support.”
Regarding her departure from the Gates Foundation, French Gates highlighted an agreement with Bill Gates, revealing an additional $12.5 billion to further her work on behalf of women and families. She expressed intention to provide more details on her plans shortly.
Established in 2000 by Bill and Melinda Gates, the Gates Foundation aimed to reduce inequalities and enhance quality of life worldwide. With an initial transfer of $20 billion in Microsoft stock to the Foundation, the Gates have since allocated over $53 billion to support a wide array of causes, spanning public health, poverty reduction, and gender equality.
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