“Why is this a news story?”
I agree. It is a given most multimillionaires and billionaires spend significant amounts on clothing, whether or not it is in good taste. Nancy Pelosi, Betsy DeVoss, Carly Fiorina, Melania Trump and Hillary Clinton all wear expensive designer clothing. No doubt Jill Biden does as well. The fact Melinda Gates is wearing a $5000 outfit, no matter what it looks like, is meaningless. Relative to her total wealth, $5000 is less than pocket change.
Addressing the issue of hypocrisy and designer clothing, the best example is Alexandria Ocasio Cortez. In almost every public appearance and photo she appears wearing a different designer outfit. The former barmaid, who had to steal the tips of her coworkers to make ends meet, becomes a Congresswoman and suddenly has enough money to own multiple designer outfits. Cortez is the self declared spokesperson for the little people, the victims of capitalism. The entire clothing wardrobe of the average person she claims to represent likely doesn’t approach the cost of one of AOC’s outfits. Yet the press sees no story in this hypocrisy.
Melinda Gates has more money than some big city budgets. As long as she doesn't get tax incentives for her clothing, no biggie.
You left out Ivanka.