Questions about the future of the Gates Foundation have swirled since Bill Gates and Melinda French Gates announced their divorce after 27 years of marriage.
Melinda French Gates and Bill Gates have set a two-year trial period to work together at their namesake philanthropic foundation following their divorce, the Bill and Melinda Gates Foundation announced on Wednesday, stipulating that if the arrangement fails , French Gates would step down as co-chair and administrator and focus on her own philanthropic efforts with funding from Bill.
In one declaration Announcing an additional $ 15 billion in funding from the couple, the Gates Foundation said it would add new directors to “bring new perspectives, help guide resource allocation and strategic direction, and ensure stability and the sustainability of the foundation “.
The announcement also presented a plan if the ex-spouses choose not to work together.
If French Gates decided to withdraw from the foundation, she “would receive personal resources from [Bill] Gates for his philanthropic work. These resources would be completely separated from the endowment of the foundation, which would not be affected.
Questions about the future of the Gates Foundation, which has contributed $ 55 billion to causes around the world since its founding in 2000, have swirled since Bill and Melinda French Gates. announced that they were divorcing after 27 years of marriage in May.
Bill, the billionaire founder of Microsoft, and Melinda, author and businesswoman, announced their decision to end their marriage in a joint statement posted to their individual Twitter accounts on May 3.
In it, they wrote that they would “continue our work together at the foundation”, but no longer believed that they could “grow together as a couple in this next phase of our lives.”
Both have continued their work with the foundation since the announcement, as well as with the other philanthropic activities they contribute to it separately.
Last week the foundation $ 2.1 billion pledged over the next five years to help advance gender equality around the world at the UN Women Generation Equality Forum in Paris, where Melinda was a keynote speaker.
The Gates Foundation said its CEO Mark Suzman and COO Connie Collingsworth will spend the next few months developing recommendations with internal and external experts for the number of new directors and the selection process.
Then the foundation said: “As trustees, Gates and French Gates will approve changes to the foundation’s governance documents by the end of 2021, and new trustees will be announced in January 2022.”