'Divorce of the Century' Melinda Gates Announces Split from Bill & Melinda Gates Foundation as Well

If Joint Operation Becomes Impossible After 2 Years, Co-Chair Resigns
Independent Funding Expected for Separate Charitable Activities Upon Independence

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Melinda French Gates, the wife of Microsoft founder Bill Gates who is currently undergoing a divorce lawsuit, is expected to leave the world's largest charitable organization, the Bill & Melinda Gates Foundation, in two years to pursue independent philanthropic activities.

The Bill & Melinda Gates Foundation announced on the 7th (local time) that if Bill and Melinda are deemed unable to jointly serve as co-chairs of the foundation due to their divorce over the next two years, Melinda will leave the foundation. This is interpreted as effectively transferring operational control of the foundation to Bill.

The foundation also indicated that if Melinda becomes independent, Bill will provide separate funding to support her philanthropic work.

The foundation's stance on its operation came two months after the couple's sudden announcement of the "divorce of the century" in May. Initially, the two had stated they would continue to operate the foundation together after the divorce announcement, but they have since changed their position.

The Wall Street Journal cited sources reporting that Melinda has been discussing leaving the foundation if she cannot exercise equal control over it with Bill. Since the divorce announcement, Melinda has been spending much of her time at her investment firm, Pivotal Ventures, while also remaining involved in the foundation's operations.

Mark Suzman, the foundation's CEO, said that even during the two months following the divorce announcement, the two have been working with the foundation's management team and expressed hope, saying, "I do not expect the working relationship to end completely."

Meanwhile, the foundation announced that following Warren Buffett, chairman of Berkshire Hathaway, stepping down from his role as a foundation trustee and director, new directors will be selected by the end of this year and announced in January next year.