January 27, 2022
Gates, French Gates offer post-divorce philanthropic plans

Gates, French Gates offer post-divorce philanthropic plans

Invoice Gates and Melinda French Gates say they may nonetheless work with the Giving Pledge, the marketing campaign they co-founded with Warren Buffett in 2010 to encourage billionaires to donate the vast majority of their wealth by way of philanthropy.

However following their divorce earlier this 12 months, the 2 will do it individually and in their very own methods.

In particular person letters posted Tuesday by Giving Pledge, Gates and French Gates outlined their differing philosophies to giving.

“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,” wrote French Gates.

She added that that it’s “vital to acknowledge that freely giving cash your loved ones won’t ever want just isn’t an particularly noble act.”

French Gates, whose web price is an estimated $6.2 billion in accordance with Forbes, mentioned she plans to concentrate on “fighting poverty and advancing equality — for women and girls and other marginalized groups — in the United States and around the world” by way of the Invoice & Melinda Gates Basis and her personal Pivotal Ventures.

She additionally famous the significance of trusting nonprofit companions.

“Philanthropists are generally more helpful to the world when we’re standing behind a movement rather than trying to lead our own,” she wrote.

For his half, Gates, the Microsoft Corp. co-founder price greater than $138 billion in accordance with Forbes, wrote that he plans to maintain the Gates Basis as his major outlet for his giving.

“No child should lack access to life-saving medicines or a quality education simply because of where he or she lives, and the foundation was created to address deeply unfair inequities around the globe,” Gates wrote. “The foundation’s mission has grown over time, but it remains focused on expanding opportunity for the world’s poorest people and improving education in the United States.”

The Giving Pledge now contains 226 billionaires from 27 international locations who’ve promised to donate greater than half of their wealth to charitable causes.

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The Related Press receives help from the Lilly Endowment for protection of philanthropy and nonprofits. The AP is solely answerable for all content material. For all of AP’s philanthropy protection, go to https://apnews.com/hub/philanthropy.

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