Bill and Melinda Gates already decided how to divide wealth: 'Divorce is not something to waste money on'
Billionaire Microsoft (MSFT) co-founder Bill Gates and his wife, Melinda Gates, announced on Monday that they would end their 27-year marriage, likely fueling speculation about how the high-profile divorce will play out.
Family lawyer Randy Kessler, who has handled divorce cases involving professional athletes and entertainers, accurately predicted what court documents show — that the Gates worked out in advance how to separate their estimated $130 billion in net worth.
A petition for dissolution of marriage that Melinda Gates filed on Monday noted that, while the couple did not have a prenuptial agreement, they did have a separation agreement. The petition simply asks the court to divide the property as laid out in that agreement and does not ask for ongoing spousal support.
“My guess is they're going to work this out very privately, and that they will both be very comfortable with the way it turns out.” Kessler said. “I cannot imagine that she won't be happy or he won't be happy, financially.”
According to the petition filed in Washington state’s King County Superior court on Monday afternoon, Melinda Gates, 56, filed for the divorce stating, “This marriage is irretrievably broken. We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract.”
Bill Gates is represented in the divorce by lawyers at Munger Tolles & Olson, which was originally co-founded by Berkshire Hathaway (BRK-A, BRK-B) Vice Chairman Charlie Munger. Lawyers at Paul Weiss are representing Melinda Gates.
