$12.5 billion will enable Melinda French Gates to launch her own foundation after leaving her position as the Bill & Melinda Gates Foundation’s co-chair

Melinda French Gates, who assisted her ex-husband Bill Gates in founding the Bill & Melinda Gates Foundation more than 20 years ago, plans to relinquish her position as co-chair of the nonprofit organization, which is one of the biggest philanthropic foundations globally.

One of the richest philanthropists in the world, Melinda French Gates, announced that she is leaving her position as co-chair of the Bill & Melinda Gates Foundation, which she has assisted in leading since the organization’s founding in 2000.

The 59-year-old said she was “immensely proud” of the work of the Bill and Melinda Gates Foundation and that it was not an easy decision to step down as co-chair in a post on X.

According to French Gates, June 7 is her last day working for the foundation.

She wrote on X, “This is not a decision I came to lightly,” she wrote on X.

“I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world.”

French Gates says she will receive an additional $12.5 billion for her charitable work as part of her separation agreement from the foundation.

She plans to use these funds for her ongoing work supporting women and families.

“This is a critical moment for women and girls in the U.S. and around the world — and those fighting to protect and advance equality are in urgent need of support,” she stated.

In a separate statement posted to X, Bill Gates expressed his gratitude to his ex-wife and co-founder of the foundation.

He emphasized the significant influence she had in forming the foundation’s numerous projects and tactics.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,” Gates wrote.

French Gates “deeply cares about the foundation,” according to Mark Suzman, CEO of the Bill & Melinda Gates Foundation, who echoed her capacity to relate to the people she served.

Suzman also revealed in the same statement that Bill Gates would be the foundation’s exclusive chair and that the organization would now be known as the Gates Foundation.

“Melinda has new ideas about the role she wants to play in improving the lives of women and families in the U.S. and around the world. And, after a difficult few years watching women’s rights rolled back in the U.S. and around the world, she wants to use this next chapter to focus specifically on altering that trajectory,” Suzman stated.

The couple, who first met in 1987, established the foundation in 2000 and has made significant contributions to causes related to global health.

Since its founding, Bill Gates has given the international organization roughly $35.8 billion worth of Microsoft stock.

Melinda French Gates’s departure is the latest step in the evolution of the Gates Foundation, the world’s largest private foundation.

From public health and development to agriculture and education, the foundation is a highly influential player, giving away billions of dollars annually.