Bill and Melinda Gates to divorce after 27 years of marriage
His decision bets on the world's greatest fortune and one of the world's greatest philanthropic works.
Bill & Melinda Gates said on Monday that they were divorcing after 27 years of marriage.
In a statement posted on Twitter, the two said, "After much consideration and a lot of work on our relationship, we have decided to end our marriage." "We have raised three incredible children and built a foundation that works around the world so that all people can live healthy, productive lives."
At stake, according to the Bloomberg Billionaires Index, is the world's biggest fortune - currently $ 145.8 billion, or one of the largest philanthropic works on the planet. The Bill and Melinda Gates Foundation has awarded more than $ 50 billion, contributing to the fight against Kovid-19, leading to a charge on climate change or advocating for women's rights.
65 year old Microsoft Corp co-founder Bill Gates is the fourth richest person in the world. Melinda Gates, 56, is a former Microsoft manager who becomes an out spoken advocate on global health or lays the foundation for women's equality for her role.
While segregation stands to shake the ranking of the world's wealthiest people, the pair insisted it would have little impact on their philanthropists
And Melinda will continue to be the co-president and trustee of the Bill & Melinda Gates Foundation, "a spokeswoman for the foundation wrote in an emailed statement." There are not plans for any change in 3 roles & organization. They continue to shape the foundation's strategies or Will continue to work together to approve, advocate for foundation issues or determine the overall direction of the organization. "
It is the sec blatant divorce among the top ranks off the world's richest people in recent years, following the announcement off the 2019 separation off Jeff Bezos or McKenzie Scott.
The division, which split the couple's stake in Amazon.com Inc., instantly made McKenzie 1 of the richest people in the world. In the months that followed, she became one of the most influential philanthropists in the world, causing billions of dollars in losses, often overlooked among billions of donors.
Bill Gates' net worth was generated with Microsoft, but the software maker's shares now probably account for less than 20% of his assets. He has a lot of stake in the Bill and Melinda Gates Foundation over the years and his exact stake has not been revealed since Microsoft left the board last year.
Gates' biggest asset is Cascade Investment, a holding company he created with the proceeds of the sale of Microsoft stock, which divides the dividend run by Michael Larson. Through the Cascades, Gates has stakes in real estate, energy and hospitality, as well as dozens of public companies including the Canadian National Railway and Deere & Company.
The big question about the couple's foundation and family office is the extent to which they plan to work together, said Monica Mazy, a divorce attorney and a partner at Sidman & Bancroft LLP in San Francisco.
Even in the most amicable divorce, I have seen that the priority is to divide the foundation in 2, so that there is more autonomy or less interference, she said. The same principle applies to family offices, where investment can be divided into 2 separate pots.
The pair live in Washington, a community property state. This means that things acquired during a marriage are considered equally owned by both partners, explained Mazzi.
It cannot be determined whether the two have signed a pre-marriage agreement.
Deciding when to get married, Bill made a pro-and-con list on a whiteboard - Melinda described how she moved into her bedroom to find various factors inside Netflix's documentary series.
The couple's philanthropy has always been deeply rooted in their relationship & marriage. A day earlier when they moved to Hawaii, Bill's mother, Mary, who was trying to convince him to dramatically increase donations, gave Melinda a letter, which closed with the words "From those who are very Given, there is great hope. " Mary Gates died several months later.
But it was on a trip to Africa during their engagement that the couple decided that they would become serious philanthropists.
Melinda said at a Salesforce event in 2016, "We feel in love with everything we saw but it's no at all true to say that we really fell in love with people." Saying to yourself, 'What is happening here?'
Later in the trip, the couple filled out a wedding questionnaire, to ensure that they had similar values. Melinda said when she decided that "most of the resources from Microsoft will be returned to the society." "It was an easy discussion. We thought it would happen later in our lives when we would meet to do it. "