Melinda French Gates, who for 24 years has helped lead one of the largest philanthropic organizations in the world, announced Monday she is resigning from her role as co-chair of the Seattle-based Bill & Melinda Gates Foundation.
The decision comes three years after her divorce from Microsoft founder Bill Gates. Her last day at the organization will be June 7.
“The time is right for me to move forward into the next chapter of my philanthropy,” she wrote in a post shared on X, adding that she will soon share more about her future charitable plans. “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.”
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 be shortened to the Gates Foundation “to honor Bill Sr.’s legacy and Melinda’s contributions,” and Bill Gates will become the sole chair, the statement said.
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 Gates. That money will not be coming from the foundation’s trust, a spokesperson said, but from Gates’ personal funds.
The foundation spokesperson said the organization’s priorities will not change as a result of the departure.
David Callahan, founder and editor of Inside Philanthropy, said French Gates’ decision to step down likely will not have a major impact on the foundation. However, he said, the foundation may see a shift in the causes it supports as French Gates was a driving force behind its philanthropic efforts surrounding gender equality and reproductive rights.
“One fear is that the Gates Foundation itself may focus less attention on gender equity or reproductive rights, because Melinda will no longer be there as an internal champion of those causes,” he said. “But it remains to be seen as to whether that’s actually going to happen.”
In 2000, when the then husband and wife merged two organizations to create the Bill & Melinda Gates Foundation, it instantly became the second largest charitable trust in the world, starting with an endowment of more than $17 billion.
French Gates, who has an MBA and degrees in computer science and business from Duke University, met Gates shortly after going to work at Microsoft. By the time they married in 1994, she had helped persuade him to become active in philanthropy, she said in a 2011 interview.
“When we were engaged, we talked about how this wealth will go back to society,” French Gates said at the time. “That seems like the right thing to do if you’re a wealthy person.”
Now, the foundation has an endowment of $75.2 billion and gives out over $8 billion a year on issues such as vaccines against infectious diseases like malaria and COVID-19. It also funds initiatives related to education and economic mobility.
Since its inception, the foundation has given out $78 billion.
Although critics have said the organization’s work has either been ineffective or counterproductive, such as efforts to reduce hunger in Africa or to improve education in the U.S., the foundation has remained influential.
The foundation also has spent millions in Washington state, including a $75 million grant to help local organizations work with students to help them continue their education after high school. (The Seattle Times Education Lab receives funding from the Gates Foundation.)
In 2015, French Gates created Pivotal Ventures, which funds projects that seek to empower women. She committed $1 billion to the Kirkland-based investment firm in 2019. Last year, she also made a personal donation to create a walking and biking path along the east side of Alaskan Way in Seattle.
In a statement shared on X, Gates said he was sorry to see French Gates leave, but said he is “sure she will have a huge impact in her future philanthropic work.”
“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.
When the couple announced they would divorce after 27 years of marriage, the foundation said that if the pair could not work together as co-chairs by 2023, French Gates “will resign her position as co-chair and trustee.”
Speaking to Gayle King on “CBS Mornings” in 2022, French Gates had described her relationship with Gates as “friendly” but not quite friends.
According to Forbes, Bill Gates is the ninth richest person in the world with a net worth of $130.1 billion. Melinda French Gates, the 182nd richest, has a net worth of $11.3 billion. They are among the richest people living in Washington.
Material from The Seattle Times archives were used in this report.
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