Devendra Kumar
Melinda French Gates will step down as co-chair of the Bill & Melinda Gates Foundation, the organization she and her ex-husband Bill Gates co-founded and built over the past 20 years. This decision was not taken lightly, as she is immensely proud of the foundation’s work to address global inequities. French Gates praised the foundation’s chief executive, Mark Suzman, and the board of trustees, which was expanded after the couple’s divorce in 2021. She also commended the foundation’s staff, acknowledging the significant contributions she has made to the organization.
French Gates’ decision to step down is not without controversy, as she will receive $12.5 billion as part of her agreement with Gates. This sum will allow her to focus on her future philanthropic work, specifically on women and families. The Gates Foundation did not immediately comment on whether the funds will come from the foundation’s endowment, which stands at $75.2 billion as of December 2023.
According to Suzman, French Gates wants to use her next chapter to focus on altering the trajectory of women’s rights, which have been rolled back in recent years. He acknowledged that many people joined the foundation because of their admiration for her advocacy, particularly around gender equity. French Gates, who is known for her dedication to the cause, will likely maintain her commitment to philanthropic work, albeit in a different capacity.
Bill Gates expressed his appreciation for French Gates’ contributions to the foundation, calling them “critical.” He also recognized her desire to move on to new endeavors, stating he is confident she will continue to have a significant impact in her future philanthropic work. French Gates has organized her investments and philanthropic gifts through Pivotal Ventures, her own organization, which is not a non-profit.
The departure of French Gates from the Gates Foundation marks the end of an era, as the couple’s divorce has led to significant changes within the organization. However, French Gates’ legacy will undoubtedly continue to shape the foundation’s work, and her dedication to philanthropy will likely remain unwavering. As she gos on this new chapter, French Gates is poised to make a lasting impact on issues affecting women and families worldwide.