Melinda French Gates Will Pivot $11.4 Billion Fortune Away from Foundation

[Yo_Mama_Been_Loggin]

Source: Bloomberg

(Bloomberg) -- Melinda French Gates will increasingly give away her fortune through philanthropies other than the $50 billion Gates Foundation.

French Gates, 57, intends to spread her wealth across philanthropic endeavors, rather than pledging to give the bulk of it to the Gates Foundation, Dow Jones reported, citing people familiar with the matter.

She and Bill Gates, 66, described their individual plans for donating their fortunes in letters posted online in November, almost seven months after announcing their divorce. French Gates has been building up her own philanthropic investment firm Pivotal Ventures, which was started in 2015 with a focus on implementing “innovative solutions to problems affecting U.S. women and families.”

She is worth $11.4 billion, according to the Bloomberg Billionaires Index. Gates has the world’s fourth-highest net worth, at $130 billion.

Read more: https://www.msn.com/en-us/money/other/melinda-french-gates-will-pivot-dollar114-billion-fortune-away-from-foundation/ar-AATp0gt

[Budi]

1. $11 Billion. Meanwhile I moved $500 from my savings to checking today.

[hamsterjill]

4. The disconnect, right?

I’m glad she’s someone who does help, but good grief.

[Budi]

5. Yup. There is a rather stark disconnect, as you say.

Oh well 😐

[brooklynite]

16. Did someone compel you to buy MS-DOS, Windows or Office applications?

He developed software products that became popular. Not my choice (I run Apple) but I don't begrudge him or her the money earned.

[hamsterjill]

17. Over reaching I think.

n/t

[Escurumbele]

8. I understand what you are saying but, I also understand that Gates built MicroSoft from scratch

Yes, he took on the opportunities that presented themselves to him and his partner, but the money was not given to him, he worked hard at it, he was in the right place at the right time. He and his wife's foundation have given a lot of money away for good causes.

I am more bothered by the Exxon CEO who got a $400 million bonus one year, while also taking a $10 million salary. That CEO did not create Exxon, he was just there at the right time when OPEC raised prices and the earnings of Exxon and others went off the roof.

Jeff Bezos doesn't bother me either, he worked his butt off, Amazon kept loosing money for a very long time, but he kept at it, and he deserves all the millions he earned. I don't know what kind of philanthropist he is, but nonetheless, he earned everything he has. Granted that Bezos could be better with his employees, no question about it.

Another one is Fred Smith, he started FedEx from almost nothing, although he had the backing of his wealthy father, but he built a great company that treats his employees very well, and I know because I have friends who work there.

Some people deserve the money they made because of their creativity, their courage to follow their dreams, if they are good with those who help them achieve those dreams, and when they reach them they also help others, then I am good with that.

[Dyedinthewoolliberal]

9. uhhhhhhhhhh

I respectfully disagree with your assessment.

[SouthernDem4ever]

15. I have to disagree also

I am still miffed at a general population willing to continue to pay for faulty software and upgrades to the same faulty software for at least 25 years. The products they have today are almost worthy of purchase.

[hunter]

18. I'm a Linux guy who quit Windows at 98SE, who abhors anything Microsoft or Apple...

... and won't touch products from either company unless the pay is exceptionally good.

Nevertheless I can't work up a lot of hostility towards Bill Gates. Everyone always knew he was a shark.

Elon Musk, on the other hand...

[milestogo]

2. I hope her interests include women's issues.

[Hekate]

3. Says so right in the OP

French Gates has been building up her own philanthropic investment firm Pivotal Ventures, which was started in 2015 with a focus on implementing “innovative solutions to problems affecting U.S. women and families.”

[milestogo]

6. +1

[FakeNoose]

7. Forbes says she's worth $6.1 billion

(link) https://www.forbes.com/profile/melinda-french-gates/?sh=15fad16f2fcc

When she and Bill Gates divorced in May 2021, he gave her $2.4 billion worth of stock. They had no pre-nup agreement when they got married but they were married 27 years with 3 children. Melinda Gates will remain co-chair of the Gates Foundation for the next 5 years, but she says she'll step down if they can no longer work together harmoniously.

[SunSeeker]

10. She seems to have a good head on her shoulders. nt

[Hulk]

11. Absolutely insane wealth....bring back the guillotine

....$50,000,000,000......correct me if I'm wrong, but isn't that 50,000 millions?

[DBoon]

12. No, just bring back the effective tax rates pre-Reagan

[maxsolomon]

13. Such is the nature of the Stock Market

Most of that wealth is MS stock, and not income.

At least she's trying to do something good with it, instead of buying superyachts. I mean, she is buying and spending on frivolous rich person shit, but not a superyacht that I know of.