After the divorce announcement, Bill Gates and Melinda Gates said they will continue their work at the Bill & Melinda Gates Foundation. Their roles and the direction of the organization will not change. “They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction,” the couple announced.
However, the Los Angeles Times quoted David Callahan, editor of Inside Philanthropy magazine specializing in volunteering, as saying there are still many questions about the fate of the Bill & Melinda Gates Foundation.
The Seattle-based charity is one of the most influential private charities in the world with a size of nearly $ 50 billion. The Bill & Melinda Gates Foundation focuses on global health, development, and education issues in the US.
However, it is possible that after the divorce, Melinda Gates will set up a separate fund, focusing on other areas. The Bill & Melinda Gates Foundation with 1,600 employees and smooth programs won’t change. But the problem is how much wealth will Melinda Gates get. Then, what will she do to develop her charity path, said expert Callahan.
In 2019, Amazon CEO Jeff Bezos also caused a stir when he divorced his wife MacKenzie Scott. Under the divorce agreement, Ms. Mackenzie Scott was given a 4% stake in Jeff Bezos in Amazon, equivalent to more than $ 35 billion at the time.
Ms. MacKenzie Scott became the third richest woman in the world after her divorce and immediately became active in volunteering. In 2019, she donated up to $ 4 billion over four months.
With a net worth of $ 146 billion, Bill Gates is currently the fourth richest person in the world. Most likely, Mrs. Melinda Gates will be divided a huge sum of money. Callahan said that Bill and Melinda Gates still have a lot of resources to contribute to charitable causes.
There are signs that Melinda Gates wants to focus more on women’s empowerment. Each year the Bill & Melinda Gates Foundation published a letter written by Bill Gates himself. A few years later, Bill and Melinda wrote a letter together. This is a sign that Melinda Gates wants to assert her position and role in the fund, said the editor of Inside Philanthropy.
In her memoir The Moment of Lift, Melinda Gates writes about childhood, life, and difficulties as billionaire wife Bill Gates and the mother of three children.
In recent years, Bill Gates has received many criticisms for his determination to protect the intellectual property rights of Covid-19 vaccine manufacturers. Many international health experts believe that Bill Gates’ position benefits the pharmaceutical giants, while also hindering efforts to fight the Covid-19 epidemic in poor countries.
What remaining together
Between 1994 and 2018, the Gates family donated more than $ 36 billion to their foundation.
The nonprofit Bill & Melinda Gates Foundation ranks as the largest private charity in the US, as well as one of the largest in the world.
By the end of 2019, the Bill & Melinda Gates Foundation’s net worth is worth $ 43.3 billion.
The Bill & Melinda Gates Foundation has a great influence on public health around the world.
Over the past two decades, the foundation has provided more than $ 50 billion to fight poverty and disease in charitable campaigns based on business approaches.
Donations from the Gates Foundation have been widely recognized in their efforts to eradicate malaria and polio, provide vaccines and nutrition to children.
In 2020, the fund also pledges about 1.75 billion USD in response to Covid-19.
Last year, billionaire Warren Buffett also donated more than $ 2 billion of his Berkshire Hathaway Inc stock to the Gates Foundation, as part of a plan to give away his entire fortune before his death.