Billionaire philanthropist, Melinda French Gates has announced that she will be stepping down as co-chair of the Bill & Melinda Gates Foundation, the largest private philanthropic organization in the world.
In a statement posted on social media, Melinda French Gates said, “This is not a decision I came to lightly.” Her last day will be June 7.
Melinda French Gates founded the organization in 2000 with her then-husband Bill Gates, the co-founder of Microsoft.
Despite their divorce in 2021, the couple had committed to continuing their joint philanthropic work.
However, Melinda French Gates will now be pursuing her own charitable endeavors, focusing on women and families.
As part of her agreement with Bill Gates, Melinda French Gates will receive an additional $12.5 billion for her own charitable work.
She has already founded Pivotal Ventures, an investment company that aims to support women and minority groups.
In her statement, Melinda French Gates said, “I am immensely proud of the foundation that Bill and I built together.”
Bill Gates also commented, saying, “I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”
