Melinda French Gates Resigns from Gates Foundation
French Gates articulated her readiness to embark on the next phase of her philanthropic journey.
Melinda French Gates has announced her resignation as co-chair of the Bill & Melinda Gates Foundation, the nonprofit organization established by herself and her former husband, Bill Gates, which has grown into one of the globe’s leading philanthropic entities over the last two decades.[1]
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In a statement shared on the X platform on Monday, French Gates expressed the weightiness of her decision, affirming her immense pride in the foundation's accomplishments in addressing global inequities, a journey she and Bill embarked upon together. She extended her appreciation to Mark Suzman, the foundation's CEO, and its expanded board of trustees, a development spurred by the couple's separation in May 2021.
French Gates articulated her readiness to embark on the next phase of her philanthropic journey, already channeled through her organization, Pivotal Ventures, distinct from a nonprofit structure.
Bill Gates, acknowledging French Gates' pivotal role, conveyed his gratitude for her contributions to the foundation, foreseeing her impactful presence in future philanthropic endeavors. Bill Gates will remain in control and buy French Gates out of the foundation.
CEO Suzman announced that the foundation will undergo a name change to the Gates Foundation, as confirmed by a spokesperson.
French Gates made the decision “after considerable reflection, based on how she wants to spend the next chapter of her philanthropy,” the foundation’s CEO, Mark Suzman, wrote in a statement Monday.
“Melinda has new ideas about the role she wants to play in improving the lives of women and families in the U.S. and around the world. And, after a difficult few years watching women’s rights rolled back in the U.S. and around the world, she wants to use this next chapter to focus specifically on altering that trajectory.”
With assets totaling $75.2 billion in its endowment as of December 2023, the Gates Foundation reaffirmed its commitment to substantial spending, earmarking $8.6 billion for its initiatives in 2024.
This move was anticipated since the couple announced their separation in 2021. In January 2022, the foundation announced four new members on its board of trustees to help bolster the foundation’s governance in the wake of the divorce. It marked the first time the Gates Foundation added outsiders to the charity’s board in its two-decade history.
As part of her separation agreement from former husband Bill Gates, French Gates said she will receive an additional $12.5 billion for her charitable work. French Gates said she plans to focus her giving on groups that focus on women and families.