Their two-year marriage may be “unnecessarily broken”, but Bill and Melinda Gates still have questions about the future direction, scale and management of the charitable organization they have set up together.
Bill & Melinda Gates FoundationDistributors of ড 500 billion a year, especially in health and development projects, were increasingly concerned about deviating from the obligation to divorce.
“Bill and Melinda will remain vice-presidents and trustees,” it said. “No changes have been planned in their role or organization. They will continue to work together to formulate and approve the Foundation’s strategies, advocate for the Foundation’s issues, and determine the overall direction of the organization.
When Melinda Gates Filed an application for divorce, It ended more than three decades together, during which time they raised three children, became one of the richest couples in the world, paid more than 55 55 billion and could have far-reaching effects through the government and other wealthy donors. Promise.
The couple is in front of everyone Coronavirus is a response to the epidemic, Developing and supporting research programs for the prevention, diagnosis, and treatment of COVID-19, and strengthening the UN-backed agency Gov. .
What are the broader implications for the administration of the Foundation?
The Foundation’s future endowment will depend on the size of their continued contribution to their individual destiny, as well as the amount of further gifts from their longtime friend and fellow trustee Warren Buffett. The 90-year-old investor has made substantial donations and promised to hand over 85 percent of his remaining 100 100 million fortune.
With the exception of strategic issues such as limiting the Foundation’s permanent staff to 1,600, Gates has proven to be a very handful of buffets. Some suggest that divorce could initiate change to create larger boards in line with other grounds.
Staff internal memos emphasize “business as usual”. As one employee put it: “The foundation is already big enough. Even if they start investing in something else, it will be fine. “
Henry Peter, head professor of the Geneva Center at the University of Geneva in the Philippines, was more cautious.
Referring to Gates and Buffett, he said, “The foundation’s ecosystem is based on only three trustees.” “It simply came to our notice then [the Gates] Not married is how this couple will stay in the head. This may be the right time to look at the administration. “
He added that the divorce message was “not entirely easy to reconcile with the image that the foundation enjoys. We can only hope Melinda doesn’t leave and set up her own initiative.”
Will Gates deviate further in their public interest activities?
Unlike other wealthy couples who divorced and began philanthropy later in life, Melinda’s influence – and Bill’s late father and some close friends – helped Gates work together for more than two decades to run the foundation that bears their name.
The couple is very involved – attending weekly calls on Covid-19 and just overseeing the Foundation’s latest annual intensive strategic review last month, covering two of its program areas.
In a video interview last week, Melinda said: “Don’t we agree? A lot of times of course we do but we do. . . The Foundation committed many years ago that we would keep these differences out of the Foundation, work on them, and come to the Foundation with one voice as leaders. . . It’s our job to do it, and we do it. “
The founders focus on health and development, but Bill’s passion is “rigorous science” with an emphasis on technological and scientific success and a strong focus on results. Melinda instead emphasized “humanities” for the implementation of wider development issues and with a growing focus on women’s issues, gender equality and empowerment.
The result has been an internal split with individual parties into the “Bill” project and the “Melinda” project.
What will happen to their activities outside the foundation?
Bill Resignation From the Microsoft board last year, the company that made its fortune, sold most of its shares and invested in climate change technology. He has made significant contributions to the fight against Alzheimer’s disease, from which his late father suffered.
Some have pointed to Melinda’s greater willingness to criticize government policy, especially under former President Donald Trump, and even speculated that she could enter politics if she won a seat in the US Senate.
Forbes Their combined assets are estimated at $ 130bn. An undeclared and unannounced “separation agreement” under Washington state law will determine the division of property and assets, including their personal investment portfolio – held through Cascade investment – and their high-tech 66 66,000-square-foot showerfront home in Washington Lake once cost $ 150m.
Their investments are included in groups such as the luxury hotel group Four Seasons; Canadian National Railway; Waste disposal agency Republic Services; Ecolab, disinfectant manufacturer; Drink group Femsa; And Dear, Agricultural Machinery Manufacturer.
Bill and Melinda each oversee their own corporate impact fund – including the Gates Venture, Breakthrough Energy Ventures And The original venture – which allows them to invest for social reasons. The Foundation itself distributes their charitable donations, while the Ringfunded assets that control it – more than 50 50 billion in 2019 – are managed and operated by a separate trust.
The youngest of their four children has recently turned 18, so everyone is now a legal adult, reducing custody complications. Their daughter Jennifer posted on her Instagram account: “It was a challenging time for our whole family.”
Additional report by Billy Nowman in New York