Billionaire Melinda Gates, one of the richest people in the world, announced she has resigned from her and ex-husband Bill Gates’ foundation.
“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda, 59, wrote via a lengthy Instagram Statement on Monday, May 13. “My last day of work at the foundation will be June 7th.”
Melinda added that the decision did not come “lightly” as she is “immensely proud” of the work she and Bill, 68, did together with the nonprofit. Melinda shared that she is taking her next career steps in “full confidence” as her former organization is in good hands with CEO Mark Suzman and the executive leadership team.
“The time is right for me to move forward into my next chapter of my philanthropy,” she continued. “This is a critical moment for women and girls in the U.S. and around the world — those fighting to protect and advance equality are in urgent need of support.”
As part of her exit from the foundation, Melinda revealed that she will have “an additional $12.5 billion to commit to her next venture of helping women and their families. The amount was agreed upon by Bill as part of her departure.
“I’ll be sharing more about what that will look like in the near future,” she concluded.
After Melinda’s announcement, Bill released a statement thanking her for her service over the years and wished her the best in her future endeavors.
