Gates and French Gates propose philanthropic plans after divorce
Bill Gates and Melinda French Gates have said they will continue to work with Giving Pledge, the campaign they co-founded with Warren Buffett in 2010 to encourage billionaires to donate the majority of their wealth through philanthropy.
But after their divorce earlier this year, the two will do it separately and in their own way.
In individual letters published Tuesday by Giving Pledge, Gates and French Gates described their different philosophies when it comes to giving.
“I recognize the absurdity of so much wealth concentrated in the hands of one person, and I believe that the only responsible thing to do with a fortune of this size is to give it away – as thoughtfully and impactfully as possible.” , wrote French Gates.
She added that it is “important to recognize that giving money that your family will never need is not a particularly noble act.”
French Gates, whose net worth is estimated at $ 6.2 billion according to Forbes, said she plans to focus on “fighting poverty and promoting equality – for women and girls and other marginalized groups – in the US and around the world “through the Bill & Melinda Gates Foundation and its own Pivotal Ventures.
She also stressed the importance of trusting nonprofit partners.
âPhilanthropists are generally more useful to the world when we support a movement rather than trying to lead our own,â she wrote.
For his part, Gates, the co-founder of Microsoft Corp. worth more than $ 138 billion according to Forbes, wrote that he planned to keep the Gates Foundation as the primary outlet for his donations.
“No child should lack access to life-saving medicine or a quality education just because of where they live, and the foundation was created to address deeply unjust inequalities in the world,” Gates wrote. . “The foundation’s mission has grown over time, but it remains focused on expanding opportunities for the world’s poorest people and improving education in the United States.”
The Giving Pledge now includes 226 billionaires from 27 countries who have pledged to give more than half of their fortune to charity.