- July 8, 2021
- Posted by: Stratford Team
- Category: Business
Bill Gates and Melinda French Gates are giving themselves a two-year trial period to see if they can co-parent their multibillion-dollar charitable foundation baby.
When the couple announced their divorce two months ago, they said they would both stay on as co-chairs of the Gates Foundation, which they set up together more than 20 years ago. But on Wednesday, the foundation’s CEO announced a contingency plan “to ensure the continuity of the foundation’s work.”
That’s a nice way of saying they realize the capital-T Truth that working with one’s ex is an exceptionally terrible idea.
Here’s the deal: They’ll try running this thing in parallel for a bit, but if they can’t stand it, Bill will essentially buy Melinda out so that she can do her own philanthropic work. She would receive “personal resources” from her ex-husband — resources that would be “completely separate from the foundation’s endowment,” the foundation’s CEO said.
WHY IT MATTERS