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The 27-year-old marriage may be “unbreakable,” but there are still doubts about the future direction, scale, and governance of the philanthropic organization that Bill and Melinda Gates co-founded.
Bill & Melinda Gates Foundation, who pays more than $ 5 billion a year, mostly to health and development projects, to quickly get rid of concerns about the disruption that her divorce could cause.
“Bill and Melinda will continue to be co-chairs and trustees,” he said. “No change is expected in their roles or organization. They will continue to work together to shape and support the foundation’s strategies, defend the foundation’s issues, and establish the overall direction of the organization. ”
When Melinda Gates filed for divorce, ended up together for more than three decades and during that time raised three children, became one of the richest couples in the world, donated more than $ 55 billion and mobilized the government and other wealthy donors to have a much wider impact. Commitment.
The couple has been at the forefront the response to the coronavirus pandemic, To support the development and support of research programs for the prevention, diagnosis and treatment of Covid-19, and to strengthen Gavi, the UN protection agency that was instrumental in overseeing the distribution of vaccines to lower-income countries, and Covax, Covid’s sharing system. -19 vaccines.
What are the broadest implications for the foundation’s government?
The future endowment of the foundation will depend on the size of their individual contributions to the fortunes, as well as more gifts from a longtime friend and trusted friend Warren Buffett. The 90-year-old investor has made large donations and promised to donate 85% of the $ 100 billion.
Gates has proven to be very practical, with Buffett less likely to regularly limit 1,600 permanent employees to strategic issues such as the foundation. Some say that divorce can cause changes to create a larger table that matches other foundations.
Internal remarks to employees have been stressed “as usual”. As one employee put it: “The foundation is big enough already. Even if they start putting money into something else, it will be fine. “
Professor Henry Peter, head of the Geneva Philanthropy Center at the University of Geneva, was more cautious.
“The foundation’s ecosystem is really based on only three trustees,” he said, referring to Gates and Buffett. “It will be interesting to know [the Gates] they are not married on how that couple will stay in mind. Maybe this is the right time to look at governance. “
He added that the message of the divorce “is not entirely easy to reconcile with the image the foundation has. We hope Melinda does not go and create her own initiative.”
Will Gates change more in their philanthropic activities?
Unlike other wealthy couples who later divorced and began philanthropy in their lives, Melinda’s influence — and that of Bill’s late father and close friends — helped Gates work together for more than two decades to run the foundation that bears their name.
The couple remains very involved: it calls weekly for Covid-19 and oversees only the intensive strategic review of the foundation’s last year, which covers only its 27 program areas.
In a video interview last week, Melinda said, “We don’t agree? Sometimes, of course, we do. But what about us… The commitment made many years ago at the foundation was that we had these disagreements outside the foundation, cultivated and with one voice as leaders in the foundations. that we would come … that ‘s our job, and we do. “
The creators share a vision for health and development, but Bill’s passion is “hard science,” with an emphasis on technological and scientific advances and a special focus on results. Melinda stressed the “human sciences” with a drive to implement them on broader development issues and a growing focus on women’s issues, gender equality, and empowerment.
The result has been an internal division with the separating teams working on the “Bill” projects and the “Melinda” projects.
What will happen to their activities outside the foundation?
Bill he resigned he made a fortune last year from Microsoft’s board of directors and has sold most of his company’s shares and invested in climate change technologies. He has also made philanthropic contributions to causes such as Alzheimer’s disease, which his late father suffered from.
Some have indicated that Melinda has a greater willingness to criticize government policy, especially under former President Donald Trump, and have even thought she could get involved in politics, such as being a candidate for the U.S. Senate if the seat is available.
Forbes their combined wealth is estimated at $ 130 billion under Washington State law, an undistributed and undisputed “separation contract” will determine the distribution of assets and assets, including a personal investment portfolio Cascade Investment – and on Lake Washington, a 66,000-square-foot high-tech beachfront, worth $ 150 million.
Their investments have involved the participation of groups such as the Four Seasons luxury hotel group; Canadian National Railway; waste removal services Republic; Ecolab, creative disinfectant; Femsa group drinks; and Deere, author of agricultural machinery.
Bill and Melinda also oversee their corporate impact funds – including Gates Ventures, Progressive Energy Advances and Pivotal Ventures – that allow them to invest in social causes. The foundation itself makes philanthropic donations, which it controls ringed assets – valued at more than $ 50 billion in 2019 – managed by a separate trust.
The youngest of their four children recently turned 18, so they are all legally adults, reducing complications from caregiving. Their daughter Jennifer posted on her Instagram account: “It’s been a big challenge for our whole family.”
Additional report by Billy Nauman in New York
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