- Stake is one of the world’s biggest fortunes at stake worth 5 145.8 billion
- They also carried out the largest philanthropic operation on the planet
- Bill Gates, 65, co-founder of Micro .ft Corp., is the 4th richest man in the world
Bill and Melinda Gates said Monday they are divorcing after 27 years of marriage.
The couple said in a statement posted on Twitter, “After a lot of relationships 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 all over the world. So that everyone can live a healthy, productive life. ”
According to the Bloomberg Billionaires Index – and one of the largest philanthropic activities on Earth – is one of the world’s greatest fortunes. It is currently valued at 14 5,145.8 billion. Bill Melinda has donated more than 50 50 billion to the Melinda Gates Foundation, which has contributed to the fight against Covid-19, a leading cause for accusation of climate change and advocating for women’s rights.
Bill Gates, 65, co-founder of Micro .ft Corp., is the fourth richest man in the world. Melinda Gates, 56, is a former microsoft .ft manager who has become a clear advocate for global health and women’s equality in the Foundation’s co-operative management role.
While the separation would shake the ranking of the richest people in the world, the pair stressed that it would have little effect on their philanthropic community.
A spokesman for the foundation wrote in an emailed statement that “Bill and Melinda will be co-chairs and trustees of the Bill & Melinda Gates Foundation.” “There are no plans to change their roles or organization. They will advocate for the Foundation’s issues and shape the overall direction of the organization, in order to shape and approve the foundation’s strategy.”
It is the second bombshell divorce in recent years among the top ranked richest people in the world after the separate announcements of Jeff Bezos and McKenzie Scott in 2019.
That split, which Amazon.com Inc. Shared the couple’s stake in, immediately making McKenzie one of the richest people in the world. In the months that followed, she became the world’s most influential philanthropist, giving billions of dollars to billionaire donors for reasons often overlooked.
Gates’ fortune could prove more complicated than Bezos’s fortune, which was largely concentrated in Amazon stock.
Bill Gates’ net worth stemmed from micro .ft, but the software maker now owns less than 20% of its assets. He has transferred a large stake in the Bill & Melinda Gates Foundation over the years and his exact stake has not been made public since he left the board of Microsoft last year.
Gates’ biggest asset is Cascade Investments, a holding company he created with micro .ft stock sales and dividend proceeds run by Michael Larson. Through Cascade, Gates has interests in real estate, energy vacancies and hospitality, as well as stakes in dozens of public companies, including Canadian National Railway and Deer & Co.
Monica Mazzie, a divorce attorney in San Francisco and partner at Sideman & Bancroft LLP, said the big question about the couple’s foundation and family office fees is the extent to which they plan to work together.
“Even in the happiest divorce I’ve ever seen, the foundation has been chosen to be split in two to have more autonomy and less intermilling.” The same principle applies to family offices, where investments can be divided into two different pots.
The pair live in Washington, Washington, which is a community property state. This means that anything acquired during the marriage is considered the same ownership of both partners, Mazze explained.
It cannot be determined whether the two have signed a pre-marital agreement.
The two met in New York in the 1980s, at the beginning of Melinda’s time in the microsoft.
Bill made a pro-and-con list on the whiteboard when deciding whether to get married – Melinda called him to the Netflix documentary series “Inside Bill’s Brain” to find out how he got into her bedroom.
The couple’s philanthropy has always been very important in their relationship and marriage. The day before the wedding in Hawaii, Bill’s mother, Mary, who was trying to persuade him to dramatically increase his charity, handed Melinda a letter in which “much is expected of those who are given a lot.” Mary Gates died several months later.
But it was during their engagement trip to Africa that the couple decided they would become serious philanthropists.
“We fell in love with everything we saw, but that’s not to say we really fell in love with people,” Melinda said at the 2016 Salesforce event. Saying to yourself, ‘What’s going on here?’
Later in the trip, the couple filled out a marriage questionnaire to make sure they had the same values. At the time they decided that “most of the resources of the micro .ft would return to society,” Melinda said. “It was a simple discussion. We just thought it would happen later in our lives when we started doing it.”
(Except for the headline, this story has not been edited by NDTV staff and has been published from Syndicate Feed.)