- The 59-year-old revealed she would get $12.5 billion as part of the deal
- In the announcement on X, she said her last day at the foundation will be June
- The couple divorced in August 2021 and Melinda reportedly got $76 billion
Melinda Gates has quit the Bill and Melinda Gates Foundation – but she is receiving a very hefty sum under the terms of agreement with her ex-husband.
The 59-year-old revealed she would get $12.5 billion as part of the deal with the Microsoft founder, who is also the father of her three children.
Melinda said the move was part of her transition to ‘the next chapter of my philanthropy’ in a statement posted on X.
‘After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,’ the statement reads. ‘My last day of work at the foundation will be June 7th.’
The Gates were among the world’s richest couples until they divorced in August 2021 after Melinda said their marriage had been ‘irretrievably broken’.
Melinda Gates has quit the Bill and Melinda Gates Foundation – but gets a very hefty sum under the terms of agreement with her ex-husband
The Gates couple divorced in August 2021. (Pictured: Bill and Melinda Gates in the CBS Toyota Greenroom in 2019 when they were still together)
Pictured: Melinda Gates’ billionaire ex-husband Bill Gates
The Gates’ foundation is the world’s largest private charitable foundation, with an endowment of $75.2 billion as of December 2023 according to its website.
In 2015, Melinda founded her own organization, Pivotal Ventures, which aims to implement innovative solutions to problems affecting U.S. women and families.
On Monday, Melinda said she was ‘immensely proud’ of the foundation’s ‘extraordinary work to address inequities around the world’ and she was leaving it with ‘extremely capable CEO Mark Suzman’ and the rest of the leadership team.
‘The time is right for me to move forward into the next chapter of my philanthropy,’ she added.
‘This is a critical moment for women and girls in the U.S. and around the world, and those fighting to protect and advance equality are in urgent need of support.
‘Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.
‘I’ll be sharing more about what that will look like in the near future.
It comes after Melinda was spotted sporting an eye-catching diamond ring which sparked new romance rumors in the wake of her divorce from Bill.
However, she was seen without it for the first time last week as she reunited with her ex for the first time in eight months to mark their 27-year-old daughter Jennifer’s med school graduation.
Melinda French Gates was seen with a large diamond ring on her engagement finger after arriving in New York City via private helicopter
A closeup view of Melinda’s ring finger gives an idea of the size of the diamond
Melinda Gates has ditched her impressive sparkler as she reunited with ex-husband Bill for the first time in eight months to mark their daughter Jennifer’s med school graduation
The 59-year-old former wife of Microsoft billionaire Bill, 68, was seen strolling around in New York City to mark Jennifer’s special day as she finished med school
The couple released a statement at the time of their split and revealed that their wasn’t just ‘one moment’ that led to it
Bill Gates enjoyed a date night with his girlfriend, Paula Hurd, widow of Oracle CEO, at the star-studded 2024 Annual Breakthrough Prize ceremony over the weekend
She was pictured out and about in New York City with her former spouse on Friday in honor of their eldest child’s achievement – with the special occasion bringing the estranged lovers back together for the first time in nearly a year.
Jennifer – who has matched for residency at Mt. Sinai’s pediatrics program – seemed to appreciate her parents putting tensions aside to focus on her accomplishment as she grinned from ear-to-ear.
She was seen walking into upscale eatery Marea on Manhattan’s Upper West Side with her younger sister Phoebe, 21.
Meanwhile, Bill is dating philanthropist Paula Hurd. They were last seen together at the Academy Museum for Motion Pictures in Los Angeles for a black tie event celebrating major scientific achievements of the year.