Melinda French Gates, the ex-wife of Microsoft co-founder Bill Gates, is leaving the charity that the two created in order to start her own philanthropic endeavor that will be funded with $12.5 billion that she received as part of her exit.
“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” French Gates said in a statement.
French Gates, whose last day of work at the charity will be on June 7, said that she and her ex-husband agreed that she will “have an additional $12.5 billion to commit to my work on behalf of women and families.”
Gates released a statement that coincided with that of his former spouse, thanking her for “her critical contributions to the Foundation from its very beginning.”
Gates said French Gates “has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality.”
“I am sorry to see her leave, but I am sure she will have a huge impact in her future philanthropic work,” Gates wrote of his ex-wife.
The software billionaire said that he is “fully committed to the Foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world.”