Melinda Out Of Gates Foundation And Withdraws $12.5 Billion
Melinda French Gates is retiring from the Bill and Melinda Gates Foundation. This move comes three years after the announcement of her separation from Microsoft co-founder Bill Gates. The foundation is now losing a lot of money as a result.
Money for your own work
As Melinda French Gates announced, she will withdraw her capital share of $12.5 billion from the foundation. She wants to put the money into her own charity work, with which she primarily supports women and families. The necessary regulations were made some time ago.
“This is not a decision I made lightly,” French Gates said. “I am immensely proud of the foundation that Bill and I have built together and the extraordinary work it is doing to combat injustice around the world.”
The joint foundation that was set up by the Gates couple at the time will no longer be called the Bill and Melinda Gates Foundation after the exit. The name was changed to Gates Foundation, this shorter name was already widely used because it was shorter and lacked clarity. From now on, Bill Gates will also be the sole director of the foundation.
High subsidies
The organization recently had capital of $75.2 billion. In the roughly three decades of its existence, $77.6 billion has been paid to a variety of projects, making the foundation one of the largest private charitable organizations in the world. The focus was on financing medical projects, but many other areas were also regularly supported.
Back in 2015, French Gates founded the Pivotal Ventures initiative, which focuses on advancing opportunities for women and minorities in the United States. A particular focus here was on the technology sector, which is still predominantly male and white.
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