Melinda Gates No Longer Pledges Wealth To Gates Foundation
Melinda French Gates will no longer give the bulk of her wealth to the Bill & Melinda Gates Foundation.
The change came after her divorce from Bill Gates, with a new Giving Pledge letter outlining her intention to select other ventures to pledge her billions to.
“I recognise the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away—as thoughtfully and impactfully as possible,” French Gates wrote in her new letter.
Foundation chief executive Mark Suzman stressed that the pair are both “fully committed to being the long-term co-chairs of the foundation”, although French Gates has agreed to resign next year if the relationship becomes unworkable.
Bill Gates still intends his wealth to go towards philanthropy, through the Gates Foundation.
“The foundation is my top philanthropic priority, even as my giving in other areas has grown over the years—primarily in mitigation of climate change and tackling Alzheimer’s disease,” he wrote in his latest letter.