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"contents": "<span style=\"font-weight: 400;\">Her last day will be 7 June and she’ll receive an additional $12.5-billion to use for her own charitable purposes as part of an agreement with her ex-husband, French Gates said on Monday. </span>\r\n\r\n<span style=\"font-weight: 400;\">“I am taking this step with full confidence the foundation is in strong shape,” French Gates (59) said in a statement. “The time is right for me to move forward into the next chapter of my philanthropy.” This would focus on women and families.</span>\r\n\r\n<span style=\"font-weight: 400;\">The Bill and Melinda Gates Foundation – to be known as the Gates Foundation once she departs – is one of the biggest private foundations on the planet, with an $8.6-billion budget for 2024. Bill Gates will become its sole chair, the organisation said.</span>\r\n\r\n<span style=\"font-weight: 400;\">“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,” Gates said in a post on X. </span>\r\n\r\n<span style=\"font-weight: 400;\">The fate of the foundation’s leadership was thrown into question after the couple announced they were divorcing in May 2021. That July, they said </span><a href=\"https://www.gatesfoundation.org/ideas/articles/gates-foundation-trustees-commitment\"><span style=\"font-weight: 400;\">they were setting a two-year deadline</span></a><span style=\"font-weight: 400;\"> to decide whether they could work together, and that if they couldn’t, French Gates would receive money from Gates for her philanthropic work that’s separate from the foundation’s endowment.</span>\r\n\r\n<b>Read more:</b> <a href=\"https://www.bloomberg.com/news/articles/2021-07-07/bill-and-melinda-french-gates-commit-15-billion-to-foundation\"><span style=\"font-weight: 400;\">Gateses have two years to decide if they can share foundation</span></a>\r\n\r\n<span style=\"font-weight: 400;\">In September 2022, French Gates said she was “completely committed” to the foundation and working with her ex-husband.</span>\r\n<blockquote class=\"twitter-tweet\">\r\n<p dir=\"ltr\" lang=\"zxx\"><a href=\"https://t.co/JYIovjNYKo\">pic.twitter.com/JYIovjNYKo</a></p>\r\n— Melinda French Gates (@melindagates) <a href=\"https://twitter.com/melindagates/status/1790049411227086949?ref_src=twsrc%5Etfw\">May 13, 2024</a></blockquote>\r\n<script async src=\"https://platform.twitter.com/widgets.js\" charset=\"utf-8\"></script>\r\n\r\n<span style=\"font-weight: 400;\">French Gates has her own charity, Pivotal Ventures, which she started in 2015. By the time the couple divorced Pivotal had invested hundreds of millions of dollars in more than 150 organisations. It uses grants and venture capital to focus on empowering women, including getting more females into technology jobs and elected to public office, and advocating for paid family leave.</span>\r\n\r\n<b>Read more:</b> <a href=\"https://www.bloomberg.com/news/articles/2021-06-30/gates-foundation-commits-2-1-billion-to-advance-gender-equality\"><span style=\"font-weight: 400;\">Gates Foundation commits $2.1-billion to advance gender equality</span></a>\r\n\r\n<span style=\"font-weight: 400;\">Bill Gates (68), the former chief executive and co-founder of Microsoft, is the world’s fifth-richest person with a fortune of $152.6-billion, according to the Bloomberg Billionaires Index, while French Gates is worth $13.3-billion.</span>\r\n\r\n<span style=\"font-weight: 400;\">French Gates, through Pivotal, has also worked with MacKenzie Scott, who became one of the biggest philanthropists in history following her 2019 divorce from Amazon co-founder Jeff Bezos. </span>\r\n\r\n<b>Read more in Daily Maverick: </b><a href=\"https://www.dailymaverick.co.za/article/2022-03-17-melinda-french-gates-and-mackenzie-scott-among-backers-of-1-billion-gender-fund/\"><span style=\"font-weight: 400;\">Melinda French Gates and MacKenzie Scott among backers of $1-billion gender fund</span></a>\r\n\r\n<span style=\"font-weight: 400;\">After French Gates’s departure, the foundation’s board will be made up of Gates, CEO Mark Suzman and five other people appointed in the years following the divorce. </span>\r\n\r\n<span style=\"font-weight: 400;\">“This is difficult news for me too,” Suzman wrote in an email to employees Monday. “I truly admire Melinda, and I will deeply miss working with her and learning from her.” </span><b>DM/Bloomberg</b>",
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