Melinda French Gates resigns from Gates Foundation, gets $12.5 billion for charity

ByShafiq Najib ABCNews logo
Tuesday, May 14, 2024

Melinda French Gates announced her resignation from the Bill and Melinda French Gates Foundation and her plans to "commit" to her own philanthropic work.

In an Instagram post on Monday, the philanthropist, activist, best-selling author and mother shared that she has decided to step down from her role as the co-chair of the foundation, noting that her last day of work will be June 7.

"This is not the decision I came to lightly," Melinda French Gates explained in the caption. "I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world. I care deeply about the foundation team, our partners around the world, and everyone who is touched by its work."

In her statement, she also shared that under the terms of her agreement with Bill Gates in leaving the foundation, "I will have an additional $12.5 billion to commit to my work on behalf of women and families. I'll be sharing more about what that will look like in the near future."

"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 wrote.

In response to the news, Bill Gates thanked Melinda French Gates for her "critical contributions" to the foundation from its beginning in his statement posted on X, formerly known as Twitter.

"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," the statement continued. "I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work."

Founded by the former couple, the foundation was launched in 2000 and is led by CEO Mark Suzman.

Since its inception, the foundation has made $77.6 billion total of grant payments and is worth $75.2 billion as of December 31, 2023, according to its website.

Melinda French Gates and Bill Gates, who were married for almost three decades before divorcing in 2021, share three children together.