Gates, Gates present post-divorce charitable plans

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In this photo taken on February 1, 2019, Bill and Melinda Gates are interviewed in Kirkland, Washington. Bill Gates and Melinda French Gates will continue their work with Giving Pledge, but after their divorce earlier this year, they will do so separately. And in their own ways. In individual letters published Tuesday, November 30, 2021 by Giving Pledge, the campaign they co-founded with Warren Buffett in 2010 to encourage billionaires to donate most of their wealth through philanthropy, Gates and Gates outlined their different philosophies toward giving. (AP Photo/Elaine Thompson)

AP

Bill Gates and Melinda French Gates said they would continue to work with Giving Pledge, the campaign they co-founded with Warren Buffett in 2010 to encourage billionaires to donate most of their wealth through philanthropy.

But after their divorce earlier this year, the two will do so separately and in their own way.

In individual letters sent by Giving Pledge on Tuesday, the Gates and the French Gates outlined their different philosophies in giving.

French Gates wrote: “I am aware of the absurdity of concentrating so much wealth in the hands of one person, and I believe that the only thing responsible for a fortune of this magnitude is to give it up – with as much thought and influence as possible.”

“It is important to recognize that donating money that your family will never need is not a particularly noble act,” she added.

French Gates, who has an estimated net worth of $6.2 billion according to Forbes, said she plans to focus on “fighting poverty and promoting equality – for women, girls, and other marginalized groups – in the United States and around the world” through the Bill & Melinda Gates Foundation and the private Pivotal Ventures Foundation. out.

She also noted the importance of trusting non-profit partners.

“Philanthropists are generally more useful to the world when we stand behind a movement rather than trying to lead our movement,” she wrote.

For his part, Gates, co-founder of Microsoft Corp worth more than $138 billion according to Forbes magazine, wrote that he plans to keep the Gates Foundation as the main executor of his bids.

“No child should lack life-saving medicines or a quality education just because of where they live, and the Foundation was created to address unfair inequalities around the world,” Gates wrote. “The Foundation’s mission has grown over time, but it remains focused on expanding opportunities for the world’s poorest and improving education in the United States.”

The giving pledge now includes 226 billionaires from 27 countries who have pledged to donate more than half of their fortunes to charity.

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