Melinda Gates Leaves Foundation with $12.5 Billion for New Cause! Philanthropy Power Couple Splits?
Melinda French Gates is stepping down from the Bill & Melinda Gates Foundation, effective June 7th. She will dedicate $12.5 billion to her own philanthropic efforts focused on women and families. The Gates Foundation will be renamed to simply the Gates Foundation.
CONTENTS: Melinda Gates Leaves Foundation with $12.5 Billion
Melinda Gates Steps Down
– Melinda Gates Leaves Foundation with $12.5 Billion
Melinda French Gates announced her resignation from her role as co-chair of the Bill & Melinda Gates Foundation, effective June 7. She emphasized that this decision wasn’t made lightly and that she feels it’s the appropriate time to transition into the next phase of her philanthropic endeavors. As part of her agreement with Bill Gates, she will have an additional $12.5 billion to dedicate to her work in support of women and families.
Gates Foundation Update
Melinda French Gates stated that she will reveal further details about her philanthropic initiatives in due course. CEO Mark Suzman announced that the foundation’s name will be changed to the Gates Foundation, in recognition of Bill Sr.’s legacy and Melinda’s contributions. Additionally, Bill Gates will assume the sole role of Chair of the foundation.
Melinda Gates: New Focus
Mr. Suzman expressed that Melinda French Gates made the decision to step down from her role after careful consideration, driven by her vision for the next phase of her philanthropic efforts. He stated that Melinda has developed new strategies for advancing the well-being of women and families globally, particularly in light of recent setbacks to women’s rights. Her decision reflects a commitment to redirecting her focus towards positively influencing this trajectory in the future.
— Melinda French Gates (@melindagates) May 13, 2024
Suzman on Melinda’s Exit
Describing the news as “very saddening,” Mr. Suzman acknowledged that it will take time for people to absorb the development. He emphasized that many were inspired by Melinda French Gates’ influential leadership, especially in promoting gender equality and linking the foundation’s work to those most in need. Mr. Suzman expressed personal sadness, stating that he, like others, greatly admires Melinda and will miss the opportunity to collaborate and learn from her.
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