Melinda French Gates announced Monday she is resigning from her role as co-chair of the Seattle-based Bill & Melinda Gates Foundation.
“This is not a decision I came to lightly,” French Gates wrote in a post shared on X.
CEO Mark Suzman, the executive leadership team and the board of trustees will continue to lead the foundation’s philanthropic work, French Gates said.
Suzman said in a statement that French Gates “ will not be bringing any of the foundation’s work with her when she leaves.” The organization’s name will change to the Gates Foundation, with Bill Gates, her ex-husband and Microsoft founder, becoming the sole chair.
Upon resigning, French Gates said she will receive “an additional $12.5 billion to commit to my work on behalf of women and families” thanks to an agreement with Bill Gates.
In 2015, French Gates created Pivotal Ventures, which funds projects that seek to empower women.
“This is a critical moment for women and girls in the U.S. and around the world — and those fighting to protect and advance equality are in urgent need of support,” she said.
French Gates’ last day of work at the organization will be June 7. She said she will soon share more about her future charitable plans.
“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,” Bill wrote in a statement shared on X.
“Looking ahead, I remain fully committed to the Foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world,” he said.
The Associated Press in early 2023 reported that the Gates Foundation is the largest private philanthropic donor, as it had planned to donate $8.3 billion for that year. The foundation plans to donate $9 billion annually by 2026.
The foundation has given out nearly $78 billion and has a $75.2 billion endowment as of the end of 2023.
Upon the couple’s divorce from a 27-year marriage in 2021, the foundation had announced that if the pair could not work together as co-chairs by 2023, French Gates “will resign her position as co-chair and trustee.”
The foundation, created in 2000 by the couple, appointed outside board members for the first time in 2022.
©2024 The Seattle Times. Visit seattletimes.com. Distributed by Tribune Content Agency, LLC.
