Melinda French Gates, co-founder of the Bill &aཧmp; Melinda Gates Foundation, announced her decision to step down as co-chair of the philanthropic powerhouse she helped buil🤡d with her ex-husband, Bill Gates, over the past two decades. The nonprofit, which stands as one of the world’s largest philanthropic organizations, will see French Gates’ departure officially on June 7.
“This is not a decision I came to lightly,” stated French Gates in a message shared on 'X' on Monday. “I am immense🎀ly proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world.”
French Gates expressed her con🎐fidence in the foundation’s CEO, Mark Suzman, and the expanded board of trustees, which underwent significant changes following the couple’s divorce announcement in May 2021.
Acknowledging the transition, French Gat❀es wrote, “The time is ri🔴ght for me to move forward into the next chapter of my philanthropy,” highlighting her existing organization, Pivotal Ventures, which operates outside the nonprofit realm.
Bill Gates, in a💃 separate statement, expressed gratitude for French Gates’ “critical” contributions, noting her impending departure while affirming her coꦅntinued impact in future philanthropic endeavours.
In ꧋light of the change, the foundation ꧙will rebrand as the Gates Foundation, a spokesperson confirmed.
As part of her agreement with Gates💟, French Gates will receive $12.5 billion, earmarked for her future endeavours with a focus on women and families. Notably, these funds will be supplಌied personally by Gates, separate from the foundation’s endowment.
The Gates Foundation boasts significant global health fund𝔉ing, supporting key institutions such as Gavi, the Vaccine Alliance, and The Global Fund to Fight AIDS, Tuberculosis a🎉nd Malaria. Its scope extends to research on child malnutrition, maternal health, climate change adaptation for small farmers, and more.
In the US, the foundation has in🐬fluenced education policy and research, with🅠 plans to bolster antipoverty initiatives moving forward.
French Gates’ departure, though surprising to many, reflects a strategic move. Latanya Mapp, president and CEO of Rockefeller Philanthropy Advisors, noted French Gate💯s’ efforts in embedding a gender equity perspective within the foundation’s programs, ensuring continuity post-her tenure.
However, the shift reignites discussions about the foundation’s governance structure. Linsey McGoey, a sociology professor and author, raised questions about the concentration of power within a select group and advocated for a wid🐎er distribution of influence.
Mark Suzman, addressing employees, affirmed French Gates’ decision, citing her desire to combat the rollb🌊ack of women’s rights globally. He reco✃gnized her advocacy as a driving force for many joining the foundation.
With an endowment totalling $75.2 billion as of December 2023, the Gates Foundation reaffirmed its commitment to extensive spending, ann🍌ouncing plans to allocate $8.6 billion in 2024 to advance its mission.
