Melinda Gates Resigns as Gates Foundation Co-Chair, 3 Years After Her Divorce From 'Epstein' Gates

💭 Melinda French Gates will step down as co-chair of the Bill & Melinda Gates Foundation, the nonprofit she and her ex-husband Bill Gates founded and built into one of the world's largest philanthropic organizations over the past 20 years.

“This is not a decision I came to lightly,” French Gates posted on the X platform on Monday. “I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world.”

She praised the foundation's CEO, Mark Suzman, and the foundation's board of trustees, which was significantly expanded after the couple announced their divorce in May 2021.

“The time is right for me to move forward into the next chapter of my philanthropy,” French Gates wrote in her statement. She already organizes some of her investments and philanthropic gifts through her organization, Pivotal Ventures, which is not a nonprofit.

Bill Gates thanked French Gates for her “critical” contributions to the foundation in a statement, saying, “I am sorry to see her leave, but I am sure she will have a huge impact in her future philanthropic work.”

The foundation will change its name to the Gates Foundation, a spokesperson said.

French Gates will receive $12.5 billion as part of her agreement with Gates, which she said would commit to future work focused on women and families. The foundation said that Gates would supply those funds personally, not from the foundation's endowment.

When French Gates officially resigns June 7, Bill Gates will be the sole chair of the foundation's board, though Suzman, as CEO, has taken on a higher profile role in the past three years. For example, he began writing the foundation's annual letter outlining its priorities in 2022.

The Gates Foundation holds $75.2 billion in its endowment as of December 2023, and announced in January, it planned to spend $8.6 billion through the course of its work in 2024.