Melinda French Gates, ex-wife of Microsoft co-founder Bill Gates, will no longer be distributing the majority of her wealth to the Bill & Melinda Gates Foundation, according to sources familiar with the matter.
The billionaire came to the conclusion at the end of 2021 when she published her individual Giving Pledge letter that she will instead spread her fortune among different philanthropic endeavors, sources told the Wall Street Journal.
BILL AND MELINDA GATES GETTING DIVORCED
“I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away — as thoughtfully and impactfully as possible,” she wrote in the letter.
Speculation surrounding what would happen with the couple’s wealth started after they announced their divorce in 2021. In a joint statement at the time, they reaffirmed their commitment to the foundation, saying that they would work to “enable all people to lead healthy, productive lives.”
The couple had first pledged to give the majority of their wealth to the Gates Foundation in 2010.
In French Gates’s letter, she talked about how philanthropy plays a “unique role in driving progress.”
“I think philanthropy is most effective when it prioritizes flexibility over ideology — and why in my work at the foundation and Pivotal Ventures I’ll continue to seek out new partners, ideas, and perspectives,” she wrote.
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French Gates’s net worth is estimated at $11.3 billion, according to Bloomberg.
