x

Society

Bill, Melinda Gates to Run Foundation Jointly After Divorce

NEW YORK — Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce. However, if after two years Gates and French Gates decide they cannot continue in their roles, French Gates will resign her positions as co-chair and trustee, The Bill and Gates Melinda Foundation announced Wednesday.

If French Gates resigns, Gates would essentially buy her out of the foundation, one of the world's largest private charitable organizations, and she would receive resources from him to do her own philanthropic work. The resources received would be separate from the foundation's endowment, according to the announcement,

To reflect their commitment to continue the Gates Foundation together, Gates and French Gates announced an additional $15 billion to the foundation's endowment. Gates Foundation CEO Mark Suzman also announced that the foundation would expand its board of trustees. Currently, only Gates and French Gates are on the board of trustees, after Berkshire Hathaway CEO Warren Buffett's resignation as trustee in June.

"Our vision for the foundation has grown over time, but it has always been focused on addressing inequity and expanding opportunity for the world's poorest people," Bill Gates said in a statement. "These new resources and the evolution of the foundation's governance will sustain this ambitious mission and vital work for years to come."

Gate and French Gates announced in May that they were divorcing after 27 years of marriage. 

 "I am deeply proud of all that the foundation and its partners have accomplished over the past two decades to bring us closer to a world where everyone, everywhere has the chance to live a healthy and productive life," said French Gates in a statement. "These governance changes bring more diverse perspectives and experience to the foundation's leadership. I believe deeply in the foundation's mission and remain fully committed as co-chair to its work." 

RELATED

A former CNN anchor and a retired chemistry professor are facing off in a Democratic primary to pick a challenger to U.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Alberto, Season’s First Named Tropical Storm, Dumps Rain on Texas and Mexico, Which Reports 3 Deaths

TAMPICO, Mexico (AP) — Tropical Storm Alberto rumbled toward northeast Mexico early Thursday as the first named storm of the season, carrying heavy rains that left three people dead but also brought hope to a region suffering under a prolonged, severe drought.

STUTTGART, Germany — A dramatic stoppage-time goal saw Hungary beat Scotland 1-0 at the European Championship on Sunday to wreck its opponent’s hopes of reaching the knockout stage of a major tournament for the first time in its history.

HOUSTON  — Gerardo Arteaga scored from the edge of the penalty area in the 69th minute and Mexico beat Jamaica 1-0 on Saturday night in its Copa America opener.

SKOPJE, North Macedonia (AP) — North Macedonia's center-right leader secured parliamentary approval to lead a new coalition government in a vote late Sunday.

JERUSALEM — Leaders of major churches have accused Israeli authorities of launching a “coordinated attack” on the Christian presence in the Holy Land by initiating tax proceedings against them.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.