Billionaire, the American business magnate and software developer, Bill Gates filed for divorce on Monday after twenty-seven years of marriage with Melinda Gates. Further, he adds that they had reached a deal on how to divide their assets. In a mutual petition for dissolution of marriage filed in King County Superior Court in Seattle, the couple stated that the marriage is permanently broken.
Bill and Melinda Gates’ divorce will entail complex decisions about how to handle their wealth after 27 years of marriage. Here are details about their wealth and the couple’s philanthropic activities https://t.co/DtaZ24AL0C pic.twitter.com/1KDtl0uvbf
— Reuters (@Reuters) May 4, 2021
However, the foundation said that the co-founder of Microsoft, Bill Gates, and Melinda Gates would continue to work together in their existing responsibilities as co-chairs and trustees of the firm. Additionally, the divorce filing states that the couple has no minor children as the youngest of their three children who recently turned eighteen. The couple requested the court to approve their deal on the division of assets but didn’t reveal details.
The spouses said in a statement on their separate Twitter accounts that after an excellent agreement of thought and did a lot of work on their relationship, they made the decision to end their marriage. They said that they no longer believe they can grow together as a pair in the next phase of their lives. Additionally, they ask for privacy and space for their family as they start to navigate this new life.
— Bill Gates (@BillGates) May 3, 2021
According to the latest yearly financials shown on its website, the nonprofit Bill and Melinda Gates Foundation, launched in 2000, ranks as the major private philanthropic foundation in America and one of the biggest in the world, with net assets of $43.3 billion at the 2019 end. The website said that from 1994 to 2018, Bill, 65, and Melinda, 56, provided gifts of over $36 billion to the Seattle-based foundation.
In 2020, investor Warren Buffet reported donating over $2 billion of stock from his Berkshire Hathaway Inc. to the Gates Foundation as part of formerly announced plans to give away his whole wealth before his death. Whereas the Gates foundation focused on education, public health, and climate. Its initiatives include supporting the development of COVID-19 vaccines, medical treatments, and diagnostic tests, in addition to supporting public radio and the maker of solar-powered toilets.
Mutual Foundation Work to Continue
The Gates foundation stated that the couple would continue to work mutually to approve and shape foundation strategies, advocate for the issues of foundation and set the general direction of the organization. Whereas the separation comes two years after another top American philanthropist and billionaire, Amazon.com Inc founder Jeff Bezos, announced that he and his then-wife, MacKenzie Scott, were getting divorced.
Bill Gates dropped out of Harvard University to establish Microsoft with school chu Paul Allen in 1975. In 1986, he owned forty-nine percent of Microsoft at its initial public offering, which made him a multimillionaire. With the explosive growth of Microsoft, he soon became of the richest people in the world.
After an executive era in which Gates helped transform the firm into one of the leading technology companies of the world, he resigned as CEO of Microsoft in 2000 on philanthropy. Gates remained the chairman of Microsoft until 2014 and left the board of the company in March 2020. The billionaire drew the anger of rivals and finally the American government for the business practices of the company.