Gates Foundation: Melinda Gates goes her own way

Melinda French Gates is leaving her Melinda & Bill Gates Foundation in June to devote herself fully to the fight for women's rights. The woman founded the charitable foundation 24 years ago together with her then husband, Bill Gates. He will be the sole chairman of the foundation, which will change its name to the Gates Foundation on this occasion. Mark Suzman will remain CEO.

"This is a pivotal time for women and girls in the US and around the world – and those fighting to protect and advance equality urgently need support," writes Melinda French Gates. She has reached an agreement with her ex-husband Bill Gates, according to which she will receive an additional 12.5 billion US dollars as a kind of farewell bonus, which she can use for her "work on behalf of women and families". She will announce exactly what this means in the "near future".

Praise for all

For now, those involved are scattering roses. French Gates emphasizes that she is "immensely proud" of the Gates Foundation and the "extraordinary work it does to fight injustice around the world". She felt a sense of obligation towards employees and partners. The foundation is in strong shape, the CEO is "extremely capable" and the board of trustees is experienced. In fact, the foundation plans to spend nine billion US dollars on charitable causes this year, which is a new record.

CEO Suzman emphasizes how sad French Gates' departure is for the foundation and its staff. Many would have joined the foundation precisely because of the woman's leadership and her fight for gender equality. "I know how popular Melinda is here," the South African addresses his employees, "This is bitter news for me too. Like you, I truly admire Melinda and will sorely miss working with her and learning from her."

What the foundation does

The basic idea of the Gates Foundation is that all people are of equal value. The organization is primarily active in the areas of education and health. It fights poliomyelitis, malaria mosquitoes, maternal mortality and infant mortality, supports farmers in managing the effects of climate change, families in feeding their children and women in setting up their businesses so that they can provide for their families. The foundation was established by the William H. Gates Foundation in 1994. The largest donor, alongside Mr. and Mrs. Gates, is multi-billionaire Warren Buffett.

Commitment to gender equality is an intrinsic part of the Gates Foundation; however, as a lone campaigner with a heavy purse, French Gates will be able to move more freely and express herself more politically than before. The financial impact of her departure from the Gates Foundation is unclear. Buffett originally made his annual donations conditional on both founders being alive and actively involved in the administration of the foundation. The plan is that 20 years after the death of the couple, the foundation will have spent all its money and will be dissolved.

(ds)