Billionaire Melinda French Gates to Give Majority of $11 Billion Assets to Other Charities, Less to Bill & Melinda Gates Foundation
5th February 2022 | Hong Kong
Billionaire Melinda French Gates will be giving majority of her $11 billion assets to other charities, and less to Bill & Melinda Gates Foundation. In 2021, Bill Gates, one of the world’s richest man and co-founder of Microsoft, and his then-wife Melinda filed for divorce in Seattle, United States after 27 years of marriage (1994) citing broken marriage – “we no longer believe we can grow together as a couple”. Bill and Melinda Gates, with total assets of around $150 billion, are one of the most recognised couple globally for their philanthropic activities, especially through the Bill & Melinda Gates Foundation. The Bill & Melinda Foundation have a $49 billion trust endowment, dispersing grants of $5 billion yearly with $5.1 billion to 136 countries in 2019. After their divorce, both Bill and Melinda Gates have committed to continue their philanthropic activities together through the Bill & Melinda Gates Foundation. They had also signed a separation contract for their properties, business interests and assets.
” Billionaire Melinda French Gates to Give Majority of $11 Billion Assets to Other Charities, Less to Bill & Melinda Gates Foundation “
Bill & Melinda Gates Foundation
Founded in 2000, the Bill & Melinda Gates Foundation reported $49.8 billion of trust endowment at the end of 2019. Since inception to 2019, the foundation had given a total grant of $54.8 billion. In recent years, the foundation disburses around $5 billion of direct grant support yearly. (2018: $5 billion, $2019: 5.1 billion). In 2019, the foundation funded a total of 136 countries. In United States, the foundation support those with fewer resources, providing access to opportunities to succeed in school and life. Internationally, the foundation focus on improving health, and helping people to lift themselves out of hunger and extreme poverty.
Bill Gates and Melinda Gates are the Co-chair and Trustee of Bill & Melinda Gates Foundation, while Warren Buffett, Chairman of Berkshire Hathaway, is a trustee of Bill & Melinda Gates Foundation. Every year, the foundation received a donation from Warren Buffet. The donation started in 2006 with $1.6 billion, increasing every year and in 2019, the donation amounted to $2.7 billion. In total, the foundation received $27.3 billion from Warren Buffet over 14 years.
The Giving Pledge is a global philanthropic movement launched in 2010 by Microsoft chairman Bill Gates and his wife Melinda Gates along with Berkshire Hathaway chairman Warren Buffett with a total of 40 billionaires. The Giving Pledge is a moral commitment by the world’s wealthiest to give the majority of their wealth to charitable causes.
Signers of the Giving Pledge
Signers of the Giving Pledge commit to give the majority of their wealth to philanthropy, either during their lifetimes or in their wills.
To Join the Giving Pledge
To join the Giving Pledge, billionaires will need to have at least $1 billion in personal net worth and and are ready to make a public pledge to donate the majority of their personal wealth to philanthropy. Visit: The Giving Pledge
Sign Up / Register
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