Melinda French Gates Steps Down from Gates Foundation, Pledges $12.5 Billion to New Philanthropic Ventures

Melinda French Gates, co-founder of the renowned Bill & Melinda Gates Foundation, announced her resignation from the $63 billion organization she established with her former husband, Bill Gates, nearly two decades ago. In a heartfelt statement shared on social media, French Gates expressed the significance of her decision, emphasizing her dedication to advancing philanthropic endeavors in her future endeavors.

“This decision was not made lightly,” French Gates conveyed, underscoring her immense pride in the foundation’s accomplishments during her tenure. Despite her divorce from Bill Gates in May 2021, French Gates remained steadfast in her support of the foundation and its mission.

While no explicit reason was provided for her resignation, French Gates expressed her readiness to embark on “the next chapter” of her philanthropic journey. Speculation about a potential split had arisen three years prior, and following their divorce, it was publicly stated that French Gates would step down if collaboration became untenable.

As French Gates transitions out of her role, the foundation will be rebranded as the “Gates Foundation,” with Bill Gates assuming sole chairmanship. The organization, boasting $63.6 billion in assets, remains committed to its global initiatives aimed at tackling pressing challenges such as poverty, health disparities, and education inequity.

In accordance with an agreement reached with Bill Gates, French Gates disclosed plans to allocate an additional $12.5 billion towards her initiatives benefiting women and families. While details regarding the structure of her future philanthropic endeavors remain unclear, French Gates’ track record suggests a focus on impactful ventures.

Notably, French Gates had previously committed $1 billion to Pivotal Ventures, a venture focused on empowering women in the United States through strategic investments and advocacy efforts. In a commentary for Fortune, she emphasized the importance of generating returns on these investments to drive sustainable impact.

French Gates joins the ranks of esteemed philanthropists like MacKenzie Scott, who, following her divorce from Amazon founder Jeff Bezos, pledged to donate a significant portion of her wealth to charitable causes. Scott’s contributions, exceeding $16.5 billion, have supported numerous nonprofits dedicated to addressing societal challenges.

As French Gates embarks on this new chapter, her commitment to effecting positive change remains unwavering, promising to shape the landscape of philanthropy for years to come.

About Melinda French Gates:

Melinda French Gates, a prominent philanthropist and advocate for global health and gender equality, has dedicated her life to creating positive change. Born on August 15, 1964, in Dallas, Texas, she pursued her education at Duke University, where she earned a bachelor’s degree in computer science and economics.

French Gates began her career at Microsoft, where she met her future husband, Bill Gates, co-founder of the technology giant. Together, they established the Bill & Melinda Gates Foundation in 2000, with a vision to address pressing global issues such as poverty, healthcare access, and education disparities.

Throughout her tenure at the foundation, French Gates has been instrumental in shaping its strategic initiatives, particularly those focused on empowering women and girls worldwide. Her advocacy for family planning, maternal health, and gender equality has garnered widespread recognition and praise.

Beyond her philanthropic endeavors, French Gates is also a published author and sought-after speaker on topics ranging from public health to leadership and innovation. Her unwavering commitment to social impact continues to inspire millions around the world.

In May 2021, Melinda and Bill Gates announced their divorce after nearly three decades of marriage, signaling a new chapter in French Gates’ journey. Despite the personal transition, her dedication to philanthropy remains steadfast, as she explores new avenues to drive positive change and uplift communities globally.

Melinda French Gates Net Worth:

Melinda French Gates’ net worth is estimated to be around $70 billion as of 2024. However, it’s important to note that net worth can fluctuate over time due to various factors such as changes in asset values, investments, and philanthropic activities.