She is stepping down as president of the Bill & Melinda Gates Foundation, which Melinda Gates has led (along with Bill Gates) since 2000.

As part of her retirement agreement with ex-husband Bill Gates, Gates said she will receive an additional $12.5 billion for her philanthropic work. At the same time, she said she plans to focus her philanthropic activity on groups that focus on women and families.”

“It’s not a decision I’ve taken lightly,” Gates said in a statement posted to X. “I’m extremely proud of the foundation we’ve built with Bill and his extraordinary work addressing inequities around the world .”

Melinda Gates has announced that she will be leaving the foundation on June 7 and is expected to provide further information about her future philanthropy in the near future.

The organization will be renamed the Gates Foundation with Bill Gates as sole president, Foundation CEO Mark Suzman said.

I’m sorry he’s leaving”

“I’m sorry to see Melinda go, but I’m sure her imprint on her future philanthropic work will be huge,” Bill Gates said in his own post on X. “As for the future, I remain fully committed to his work Foundation in all our strategies, and in taking advantage of the opportunities we have, with the aim of continuing to improve the lives of millions of people around the world,” he added.

Frances Gates’ departure from the foundation had been announced for years, specifically since May 2021, when her divorce with Bill Gates was announced. At the time they had said they would go through a transition period, until 2023, to see if they could work together to oversee their massive charity.

Suzman had announced in July 2021 an alternative plan to “ensure the continued work of the foundation.”

“If after two years either of them decide that they cannot continue to work together in a joint position in the presidency, Frances Gates will step down,” Suzman said.