Melinda French Gates will resign as co-chair of the Bill & Melinda Gates Foundation to pursue her own philanthropic endeavors, according to her announcement on Friday.
“The time is right for me to move forward into the next chapter of my philanthropy,” she said in a statement on X.
The billionaire philanthropist helped lead the nonprofit organization since 2000, along with her ex-husband, Microsoft founder Bill Gates. The Bill & Melinda Gates Foundation focuses on fighting poverty, disease, and inequity around the world. It has made nearly $78 billion in charitable contributions over the course of 30 years.
The 59-year-old said that the decision to resign did not come lightly and that she is proud of the Foundation that “Bill and I built together,” according to her statement. Her resignation comes three years after the couple announced their divorce in May 2021. As part of the separation agreement from her ex-husband, she will have more funds to continue her charitable work.
“In leaving the foundation, I have an additional $12.5 billion to commit to my work on behalf of women and families,” she said.
In a separate statement, Mr. Gates said that he was “sorry to see Melinda leave” and praised her work as co-founder and co-chair of the Foundation.
“I want to thank Melinda for her critical contributions to the Foundation from its very beginning. As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” according to his statement.
The couple had publicly vowed to donate their wealth from Microsoft to help others. The pair said they were motivated to help others through experiences in early childhood when they both saw their parents help local communities. The former couple has three children together.
Forbes magazine has consistently ranked the businesswoman as one of the most powerful women in the world and recognized her for devoting significant amounts of time and money toward philanthropic causes and global initiatives.
Aside from her contributions to the Bill & Melinda Gates Foundation, she is also the founder of a separate entity called Pivotal Ventures. The organization “accelerates social progress in the United States by removing barriers that hold people back,” its website states. Its major goal is to expand women’s power and influence in the country.
Meanwhile, Mr. Gates announced that he would continue to remain fully committed to the work of the Foundation.
The organization will change its name to the Gates Foundation and Mr. Gates will serve as the Foundation’s sole chair, according to CEO Mark Suzman.
“Bill and Melinda created the foundation with a simple belief: All lives have equal value,” the CEO said in a statement. “I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years. I will miss working with her and learning from her. I look forward to seeing her continued impact,” he stated.
Ms. Gates’ last day at the Foundation is set for June 7. While she did not disclose her next venture, she said in her statement that she would share more about her charitable plans in the near future.