Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation, announced her decision to step down from her role, marking a significant change for one of the world’s largest philanthropic organizations. In a statement posted on the X platform, French Gates expressed pride in the foundation’s work addressing global inequities and highlighted the need for her to move forward into the next chapter of her philanthropy.
The foundation’s CEO, Mark Suzman, and board of trustees, which expanded following the Gates’ divorce in May 2021, were commended by French Gates for their dedication to the organization’s mission. Bill Gates also acknowledged her contributions, stating that he is sorry to see her leave but confident in her future philanthropic endeavors.
As part of her agreement with Gates, French Gates will receive $12.5 billion, which she plans to use for future work focused on women and families. The Gates Foundation, with an endowment of $75.2 billion, is set to spend $8.6 billion in 2024 towards its mission.
Suzman shared that French Gates aims to focus on women’s rights in her future endeavors, particularly in light of recent setbacks in the U.S. and globally. Her advocacy for gender equity has been a driving force within the foundation, and her departure will undoubtedly leave a significant impact on the organization.
The Gates Foundation’s commitment to philanthropy remains steadfast, with support from various sources including the Associated Press and Pivotal Ventures. French Gates’ decision marks a new chapter for both her and the foundation, as they continue their efforts to create positive change in the world.