The divorce of billionaire couple Bill Gates and Melinda French Gates was officially approved on Monday by a judge, dissolving their 27 years of Marriage.
In May, the news of a divorce petition filed by French Gates in King County, Washington, hit the internet by surprise. “We no longer believe we can grow together as a couple in this next phase of our lives.” It read in part.
The couple who met over three decades ago at Microsoft clarified that the divorce will not deter them from running their co-founded charity, Bill and Melinda Gates Foundation whose net worth at the time was $50 billion. The organisation in response to co-running the affairs announced that the couple will be put on a two-year trial to ascertain the feasibility of working together.
“If after two years either decide they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee,” CEO Mark Suzman said.
“If that happens, Gates would remain in control and, essentially, buy her out of the foundation. French Gates would receive personal resources from Gates for her philanthropic work resources that would be completely separate from the foundation’s endowment.” He added.
Part of the terms finalised in the divorce documents is that neither Bill nor Melinda will pay spousal support. Also highlighted was that Melinda does not intend to change her name.
According to Bloomberg Billionaires Index, Gates’ network as of Monday was $152 billion which automatically means each of them has $76 billion following the divorce.
