[Bill Gates Divorce] Couples Are Short, Comrades Are Long

NYT "Marital Relationship in Crisis for Years... A Ticking Time Bomb"
Co-chair Position of Foundation Maintained
Possibility of Prenuptial Agreement for Property Division
Alimony May Be Less Than Scott Who Split from Bezos
"Melinda Likely to Focus on Philanthropy"

Melinda Gates (left) and Bill Gates
[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Bill Gates, the founder of Microsoft (MS), who had been vocal in responding to COVID-19, suddenly announced his divorce. Bill’s ‘surprise’ divorce declaration, which had earned the trust of people worldwide, has sparked intense interest in the future direction of the Bill & Melinda Gates Foundation’s COVID-19 response, the division of assets, and the future paths of the two who have now become strangers.

The Foundation Will Remain as Before

After the divorce announcement, the Bill & Melinda Gates Foundation issued a statement saying that Bill and Melinda will continue to serve as co-chairs of the foundation. They added that the divorce will not bring any changes to the foundation’s organization, which consists of about 1,600 people. The foundation explained, "The two will still coordinate the foundation’s strategies and various matters and set all directions." Bill also stated, "We still share the belief in the mission of founding the foundation and will continue to work together within it."

The Bill & Melinda Gates Foundation aims to combat diseases, hunger, inequality, and to expand education. The foundation played a significant role especially during the COVID-19 situation. Bill, who had long been concerned about infectious diseases, played a major role in forming international cooperation for COVID-19 response, making early investments in vaccine candidates, and supporting vaccines for underdeveloped countries through COVAX.

Comrades but No Love

Bill and Melinda Gates were partners and comrades in philanthropic and social contribution activities, including leading the ‘Giving Pledge’ movement where billionaires pledge to donate all their wealth. However, their relationship as a couple was understood to be different from appearances.

After the divorce announcement, The New York Times reported that the Gates couple was like a ticking time bomb waiting to explode. This means their relationship had long reached a point of no return.

A source close to the couple told the NYT, "The Gates couple went through several crises of separation over the past few years." Although Bill retired from the boards of Microsoft and Berkshire Hathaway last year and spent more time with Melinda, it seems this did not bring about any change.

Their conflicts were also sensed in past interviews with Melinda. In a 2019 interview with the UK’s Sunday Times, Melinda said, "My husband considered whether he could maintain a balance between work and family when deciding to marry," and raised doubts, "There were incredibly difficult times during the marriage. Could I continue it?"

This contrasts sharply with Bill’s statement in a documentary the same year, where he described his relationship with his wife as "a truly equal partnership" and said, "She is very much like me in being optimistic and interested in science." Their relationship was comradeship rather than a loving marital relationship.

Possibility of Prenuptial Agreement for Asset Division

The Gates couple’s divorce brings to mind the case of Amazon founder Jeff Bezos. On this day, Bloomberg also pointed out, "Following Jeff Bezos and MacKenzie Scott’s 2019 divorce announcement, this is the second bombshell breakup declaration among the world’s top billionaires in recent years." MacKenzie Scott joined the ranks of global billionaires after receiving $36 billion in alimony at the time of their divorce.

How the Gates couple will divide their assets has not been announced. The NYT speculated that the two likely had a prenuptial agreement. If so, Melinda’s share might be smaller compared to Scott’s.

According to Forbes, Gates’s estimated fortune is $130.5 billion (about 146.2 trillion KRW), ranking fourth worldwide. Besides owning 1.37% of Microsoft shares worth about $26 billion, he invests through his private investment firm Cascade Investment in Four Seasons Hotels, Canadian National Railway, AutoNation?the largest car dealer in the U.S.?and various real estate properties.

Just as Scott, after separating from Bezos, actively engaged in progressive philanthropy based on her alimony, Melinda is also expected to walk the path of a global ‘philanthropic angel.’

David Callahan, founder of Inside Philanthropy, predicted, "Melinda will be at the center of philanthropic activities for decades to come." Melinda also owns Pivotal Ventures, which invests in improving women’s economic rights.