In a landmark financial move following their high-profile split, billionaire philanthropist Bill Gates has reportedly transferred a staggering sum of nearly $8 billion to the private foundation of his ex-wife, Melinda French Gates. This colossal transfer, revealed through recent tax filings, is believed to be one of the largest divorce-related payouts in history.
The $7.88 Billion Transfer Revealed
According to a tax filing reviewed by the New York Times' DealBook and reported by Forbes, Bill Gates made a donation of $7.88 billion in 2024 to the Pivotal Philanthropies Foundation. This foundation is closely linked to Melinda French Gates and focuses its efforts on women and families. This disclosure marks the first public glimpse into the concrete financial terms of the couple's 2021 divorce settlement.
The impact of this massive influx of capital was immediate and dramatic. The assets of the Pivotal Philanthropies Foundation skyrocketed by over 1,000%, soaring from $604 million at the end of 2023 to approximately $7.4 billion in 2024.
Unwinding a Philanthropic Empire
This financial transfer is a key part of the formal separation of Bill and Melinda's philanthropic endeavours, which was announced in 2024. In May of that year, Melinda French Gates declared she would be leaving the Bill & Melinda Gates Foundation, the charitable giant they co-founded more than two decades ago. Her last day as co-chair was June 7, 2024.
At the time of her departure, Melinda stated on social media platform X, "Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families." She did not elaborate further on her plans. Following her exit, the foundation was renamed the Gates Foundation, with Bill Gates serving as its sole chairperson.
The $7.88 billion transfer accounts for a significant portion of that $12.5 billion commitment. The destination of the remaining $4.6 billion is unclear, but it is speculated it could have been allocated to French Gates' LLC, Pivotal Ventures. This investment company, founded in 2015, manages some of her investments and charitable work and, as an LLC, is not subject to the same public disclosure requirements as traditional non-profits.
Background of the Gates Divorce
Bill and Melinda French Gates announced their intention to divorce in May 2021, stating they no longer believed they could "grow together" as a couple. The split involved a complex division of assets, including:
- Real estate valued at over $170 million.
- An art collection worth roughly $130 million.
- A significant block of Microsoft stock.
In March 2022, Melinda added another dimension to the narrative, revealing that Bill Gates' association with the convicted sex offender Jeffrey Epstein played a role in the end of their 27-year marriage. She expressed her disapproval of the meetings and noted she had met Epstein only once out of curiosity.
Reacting to Melinda's departure from their joint foundation, Bill Gates posted on X, "I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work." The nearly $8 billion transfer effectively bankrolls that independent philanthropic future, setting the stage for a new chapter in mega-philanthropy led separately by two of the world's most influential figures.
