Melinda Gates announced Wednesday that she is no longer giving the majority of her wealth to the Bill & Melinda Gates Foundation and will instead focus on spreading her money to other philanthropic projects, The Wall Street Journal first reported.
Gates made the decision after her divorce from Microsoft co-founder Bill Gates in May 2021, the WSJ reported. The couple first pledged to donate most of their wealth to the joint Foundation in 2010.
Melinda French Gates will no longer give most of her wealth to the Gates Foundation and instead plans to spread it among philanthropies, people familiar say https://t.co/fCzMmGGzcX
— The Wall Street Journal (@WSJ) February 2, 2022
“I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away—as thoughtfully and impactfully as possible,” Gates wrote in her most recent letter. (RELATED: Gates Foundation Announces Massive Gender Equality Initiative Weeks After Bill And Melinda Split)
“There’s no question in my mind that the real standard for generosity is set by the people who give even when it means going without,” Gates wrote in her letter. “That’s why, as part of this pledge, I commit to doing more than writing checks.”
Gates added she would focus her efforts on “fighting poverty and advancing equality—for women and girls and other marginalized groups.”
The Gates Foundation is one of the largest philanthropic organizations in the world, hosting an endowment of around $50 billion, according to the group’s recent financial statements.
The Gates Foundation did not immediately respond to the Daily Caller News Foundation’s request for comment.
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