Bill and Melinda Gates want to preserve their foundation despite their divorce
The billionaire philanthropists, co-founders of the largest foundation in the world, endowed with 50 billion dollars, have announced their divorce after 27 years together. They are committed to pursuing their mission in health and education together.
Will the Bill and Melinda Gates Foundation survive separation from its parents? This is what the two parties promised on Monday, in the wake of the announcement of their divorce. Co-founder of one of the most important foundations in the world, the duo are committed to continuing their philanthropic work, without this change in their personal life interfering with their professional role.
The Gates have supported widely acclaimed programs in the health sector, and have helped bring down the death toll from malaria and polio. They have also massively supported infant nutrition and vaccine development programs, working with the flagship of the pharmaceutical industry to transform the sector. Last year, the foundation pledged $ 1.75 billion in the fight against Covid. She put her network and expertise to work, investing early in vaccine development and the creation of the Covax mechanism.
This institution has become over the years one of the most powerful and influential players in the field of health. Since its inception in January 2000, it has spent more than $ 50 billion to "improve people's health so that they no longer go hungry and end extreme poverty in developing countries".
The institution has three directors: Melinda and Bill Gates, as well as Warren Buffet. Last year, the sage of Omaha said he donated more than $ 2 billion in Berkshire Hathaway shares to the Gates Foundation. He also pledged to leave him the majority of his fortune after his death. In 2010, Warren Buffett and the Gates created Giving Pledge, an organization that 40 of America's richest people joined, and pledged to donate the majority of their fortune to charity.
The Gates Foundation employs over 1,600 people and funds programs in 135 countries. It donates approximately $ 5 billion each year to fight poverty, disease and inequality. Its CEO, Mark Suzman, said the couple will remain co-chairs and directors of the organization. “Although this period is obviously difficult for our directors, they have both assured me of their unwavering commitment to the foundation for which they have worked hard for over twenty years,” he said in a commentary. email to employees broadcast on Monday.
The sharing of the patents in question
But this break could lead to changes in the funding of the foundation, some observers argue. In particular, it is unclear whether Bill Gates will continue to feed him as regularly as he has done so far. “The divorce of the most important couple in the philanthropic world raises a lot of questions about the future of the foundation, and even the future of philanthropy,” political scientist Rob Reich said on Twitter. The Stanford University professor said he hoped the foundation would soon issue a statement on the consequences of the divorce for the institution.
Bill Gates, 65, now has the fourth largest fortune in the world according to "Forbes". It's estimated at $ 130 billion and the Microsoft co-founder has yet to donate half of his assets. Last year, he left the board of directors of Microsoft and that of Berkshire Hathaway, the conglomerate of his friend Warren Buffett, to be able to devote more time to his founding. He also transferred $ 35.8 billion in shares to the foundation and now retains 1% of Microsoft.
Bill and Melinda Gates have received much praise for their various initiatives, but the institution has also come under criticism for pushing for patent protection for private companies. A subject more than ever in the center of attention, as many governments press for free access to Covid vaccines in order to end the pandemic.
