Bill Gates, the cofounder of Microsoft, has been a long-time fixture on the Forbes list of America’s wealthiest people, often ranking as the richest or second richest person. However, this year, Gates has dropped to No. 9 on the list, with a net worth of $107 billion, $4 billion less than the previous year. This drop can be attributed to several factors, including his 2021 divorce from Melinda French Gates, his wife of 27 years.
Following their divorce, Melinda French Gates announced that she would be resigning as co-chair of the Bill & Melinda Gates Foundation and would receive an additional $12.5 billion for her philanthropic efforts. Forbes has learned that these funds were not a transfer of assets from the Gates Foundation but were coming directly from Bill Gates himself. This additional wealth has boosted French Gates’ net worth to an estimated $29 billion, making her the ninth-richest woman in the country.
Despite their divorce, both Bill and Melinda have indicated that they will continue to work together on philanthropic efforts, with the Gates Foundation set to operate for at least another 25 years. Melinda has focused her efforts on empowering women and expanding their influence, committing $2 billion to this cause through her Pivotal Ventures arm. She has also created the Pivotal Philanthropies foundation, funding it with $674 million in securities, with a likelihood of receiving a portion of the $12.5 billion she has mentioned.
With Melinda no longer co-chairing the Gates Foundation, there is speculation about the future direction of the foundation’s focus on supporting women and families. However, CEO Mark Suzman has emphasized that the commitment to gender equality will remain steadfast, with a continued focus on women’s economic empowerment. Bill Gates has also expressed his intention to continue giving away more of his fortune, ultimately dropping off the Forbes billionaire list.
Overall, the divorce of Bill and Melinda Gates has had significant implications not only on their personal wealth but also on their philanthropic efforts. Despite the challenges they may face individually, both are committed to continuing their work towards empowering women and making a positive impact on society. The future of the Gates Foundation and the philanthropic works spearheaded by both Bill and Melinda will undoubtedly continue to make a substantial impact for years to come.
