Why Melinda Gates Is No Longer Pledging The Majority Of Her Wealth To The Gates Foundation

Melinda French Gates has reversed her decision to pledge the majority of her wealth to the Bill & Melinda Gates Foundation as she looks to spread the money as "thoughtfully and impactfully as possible."

According to sources for the Wall Street Journal, French Gates, 57, made the decision officially in late 2021 after her divorce to Microsoft co-founder Bill Gates was finalized last year.

Back in 2010, the couple had announced that they were pledging the bulk of their wealth to the Gates Foundation in a joint Giving Pledge letter.

In her first individual Giving Pledge letter, Gates French wrote about her decision, "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."

However, sources for the Journal did say that it is possible that French Gates, who has a net worth of $6.1 billion, according to Forbes, may make donations to Gate Foundation even as she gives to other charities.

The Gates Foundation is considered one of the world's largest philanthropies, with an endowment that extends over $50 billion, the Journal reported.

It was started in 2010 by French Gates, Gates, and Warren Buffett as part of an effort to encourage the world's richest people to give more than half their wealth to philanthropy while they are still alive or through their wills after death.

French Gates, along with Gates, is the foundation's co-chair. Although she has agreed to resign from the position in 2023, if the pair decides at any point, they can no longer work with each other.

Gates has confirmed his commitment to the foundation in his most recent Giving Pledge letter, where he said, "The foundation is my top philanthropic priority."