Bill Gates and Melinda French Gates officially divorced after 27 years of marriage
Three months ago, they announced their separation, and since then, more than $3 billion worth of shares held by Gates' Cascade Investment has been transferred to French's name.
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FollowMicrosoft co-founder Bill Gates and Melina French Gates have gotten divorced after 27 years of marriage. A judge finalised their divorce in King County, Washington, as per media reports, which stated that neither party would receive 'spousal support' or change their names. The judge has further ordered the two to divide their property according to the terms of a separation contract, which remains confidential. However, no details of the agreement were disclosed in the final divorce order.
Under Washington law, there is a 90-day waiting period between when a divorce is filed and finalised, and anything accumulated during the marriage is to be considered equally.
Three months ago, they announced their separation, and since then, more than $3 billion worth of shares held by Gates' Cascade Investment has been transferred to French's name. However, the couple filed for divorce on May 3 but pledged to continue their philanthropic work together. Meanwhile, last month, the foundation said that the organisation was planning a two-year trial period to see if the pair could continue working together effectively.
Speaking on the matter, CEO Mark Suzman said if after two years either decide that they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee.
As per media reports, Gates, 65, is now worth more than $150 billion.
The Seattle-based Bill & Melinda Gates Foundation has become one of the most powerful and influential forces in global public health, spending more than $50 billion over the past two decades to bring a business approach to combating poverty and disease.
The Gateses have backed widely praised programs in malaria and polio eradication, child nutrition and vaccines. The foundation last year committed $1.75 billion to COVID-19 relief.
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