Bill, Melinda Gates to divorce after 27 years, but will still work together
Seattle, May 4: Bill and Melinda Gates said on Monday that they are divorcing but would keep working together at the Bill and Melinda Gates Foundation, one of the largest charitable foundations in the world. In identical tweets, the Microsoft co-founder and his wife said they had made the decision to end their marriage of 27 years.
“We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives,” they said in a statement. “We ask for space and privacy for our family as we begin to navigate this new life.”
Bill Gates was formerly the world’s richest person and his fortune is estimated at well over $100 billion. How the couple end up settling their estate and any impact on the foundation will be closely watched, especially after another high-profile
Seattle-area billionaire couple recently ended their marriage.
Amazon CEO Jeff Bezos and MacKenzie Bezos finalised their divorce in 2019. MacKenzie Scott has since remarried and now focuses on her own philanthropy after receiving a 4 per cent stake in Amazon, worth more than $36 billion.
The Gateses were married in 1994 in Hawaii. They met after she began working at Microsoft as a product manager in 1987.
Bill and Melinda Gates, who for decades have overseen one of history's greatest fortunes and philanthropic operations, said they plan to divorce.
The announcement on Monday that the couple is splitting after 27 years of marriage has the power to ripple through the technology industry, a vast portfolio of business and real estate holdings and into the realms of global health, climate change policy and social issues, including equality for women.
The pair, who command an estimated $146 billion, according to the Bloomberg Billionaires Index, made no public hint of their financial plans, though they emphasised that they will cooperate on continuing their philanthropy.
"After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage," the two said in a brief statement posted on Twitter. "We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives."
Bill Gates, the 65-yearold co-founder of Microsoft Corp, ranks as the world's fourth-richest person. Melinda Gates, 56, is a former Microsoft manager who's gained international prominence co-running the Bill & Melinda Gates
Foundation. It's already given away more than $50 billion.
They will remain cochairs and trustees of the foundation, a spokesperson for the organisation wrote in an emailed statement.
"No changes to their roles or the organisation are planned," according to the statement. "They will continue to work together to shape and approve foundation strategies, advocate for the foundation's issues, and set the organisation's overall direction."
The couple filed for divorce in King County on Monday, an online search of court dockets shows. They have a separation agreement, according to a copy of a divorce petition posted by the website TMZ, which doesn't elaborate on the terms. It calls their marriage "irretrievably broken."
It's the second bombshell divorce among the uppermost ranks of the world's richest people in recent years, following the 2019 separation announcement of Jeff Bezos and MacKenzie Scott.
That split, which divided the couple's stake in Amazon.com Inc, immediately made MacKenzie one of the world's richest people. In the months that followed, she became one of the most influential philanthropists in the world, giving away billions of dollars to often overlooked causes among billionaire donors.
But for Bill and Melinda Gates, separating assets potentially poses a bigger challenge than dividing the Bezos fortune, which was largely concentrated in Amazon stock.
Bill Gates's net worth originated with Microsoft but shares of the software-maker now probably make up less than 20 per cent of his assets. He's shifted much of his stake into the Bill & Melinda Gates Foundation over the years and his exact stake hasn't been disclosed since he left Microsoft's board last year.
Gates's biggest asset is Cascade Investment, a holding company he created with the proceeds of Microsoft stock sales and dividends that's run by Michael Larson. Through Cascade, Gates has interests in real estate, energy and hospitality as well as stakes in dozens of public companies, including Canadian National Railway and Deere & Co.