Gateses announce divorce agreement
SEATTLE: Billionaire benefactors Bill and Melinda Gates, cofounders of one of the world’s largest private charitable foundations, filed for divorce on Monday, after 27 years of marriage but pledged to continue their philanthropic work together.
The Bill & Melinda Gates Foundation has become one of the most powerful and influential forces in global public health, spending more than $US50 billion ($NZ69.7 billion) over the past two decades to bring a business approach to combating poverty and disease.
The Gateses have backed widely praised programmes in malaria and polio eradication, child nutrition and vaccines. The foundation last year committed some $US1.75 billion to Covid19 relief.
In a joint petition for dissolution of marriage, the couple asserted their legal union was ‘‘irretrievably broken,’’ but said they had reached agreement on how to divide their marital assets. No details of that accord were disclosed in the filing in King County Superior Court in Seattle.
Bill Gates (65), who cofounded Microsoft Corp, and his spouse, Melinda French Gates (56) met after she joined the software giant as a product manager, and they dated for a few years before marrying in January 1994, in Hawaii.
‘‘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 joint statement posted on each of their individual Twitter accounts.
‘‘We no longer believe we can grow together as a couple in the next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life,’’ they said.
The divorce petition, which states that the couple have no minor children, comes after the youngest of their three offspring recently turned 18.
Launched in 2000, the nonprofit Bill & Melinda Gates Foundation ranks as the largest private philanthropic foundation in the United States and one of the world’s biggest, with net assets of $US43.3 billion at the end of 2019, according to the latest fullyear financials shown on its website.
From 1994 to 2018, the couple gave more than $US36 billion to the Seattlebased foundation, the website said.
Last year, investor Warren Buffett reported giving more than $US2 billion of stock from his Berkshire Hathaway Inc to the Gates Foundation as part of previously announced plans to give away his entire fortune before his death.
In their divorce petition, the couple asks the court ‘‘to dissolve our marriage’’ and to divide their communal property, business interests and liabilities ‘‘as set forth in our separation contract’’, though that accord was not made public.
Bill Gates is ranked No 4 on the Forbes list of the world’s wealthiest individuals, with an estimated $US124 billion fortune.
In a separate statement, the Gates Foundation said the couple would remain as cochairs and trustees of the organisation.
‘‘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 foundation’s statement said.
At least one critic of billionaire benefactors cited the Gates’ split as a cautionary tale in the wisdom of concentrating so much sway over global humanitarian issues under the control of superwealthy individuals.
‘‘The Gates divorce will do more than upend a family’s life. It will ramify into the worlds of business, education, public health, civil society, philanthropy, and beyond,’’ Anand Giridharadas, author of the book Winners Take All, told Reuters.
‘‘That is because our society has made the colossal error of allowing wealth to purchase the chance to make quasigovernmental decisions as a private citizen,’’ he said.
❛ We no longer believe we can
grow together as a couple in the next phase
of our lives