Posted on 02/02/2022 6:02:02 PM PST by SeekAndFind
Billionaire Melinda French Gates will no longer give the bulk of her fortune to the foundation she started with her ex-husband, Microsoft founder Bill Gates, according to a report, which cites people familiar.
French Gates had committed to giving the bulk of her personal fortune — estimated at around $11 billion — to the Bill & Melinda Gates Foundation, one of the world’s largest with more than $50 billion in assets. But now she will spread the money around to other philanthropic causes, the Wall Street Journal reported, citing the people familiar with the matter.
Her apparent decision follows her divorce last year from the Microsoft founder.
Still, French Gates, 57, will maintain her commitment to the Giving Pledge, a campaign by some the world’s richest individuals to give away the majority of their wealth, the WSJ reported.
The change in giving strategy, which hadn’t been previously reported, was actually enacted last November, the report said. That’s when French Gates published her first individual letter detailing her commitment to the Giving Pledge after her divorce from Gates was finalized. The couple previously had a joint commitment to the campaign.
“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,” French Gates said in her new Giving Pledge letter. “The ultimate goal of any philanthropist should be to render the need for philanthropy obsolete.”
A representative for the Bill & Melinda Gates Foundation declined to comment on French Gates’ decision.
In 2015, French Gates founded Pivotal Ventures, a charitable organization supporting “innovative solutions to problems affecting US women and families.” She mentioned that initiative in her Giving Pledge letter.
(Excerpt) Read more at nypost.com ...
The Gates Foundation is a scam. Any money given to it belongs to him and all he has to do is pay the taxes, if he decides to shut it down.
I have been learning about how these Foundations really work. They are personal bank accounts of the billionaire class that they can withdraw from for their purposes, as long as they pay the taxes.
She’ll figure out another way to squander it. A fool and their money...
never met her, have met Bill a few times
I knew a woman who was one of his Direct Reports in the early 90s
I think she hated him, but would not anything about him, but if his name came up her face would twist all up.
One night after drinking lots of vodka another co-worker had brought back from their trip to russia I asked her something about gates for political office and she said
“he should not be in charge of anything ever”
I never heard her say another word about him
Ugly, mentally-ill, filthy, dirtbag, lowlife SKANK.
Is that what the Germans go through when they invade the country to their west?
Was Bill Gates as creepy in person as he appears to be on film?
I wonder if they would consider donating to my “buy Centermass alot of cool guns and plenty of ammo” charity. I guess I could always ask them.
Sounds like sweet Melinda is trying to distancing her money (share) further away from having to do with Billy Gates just in case of any future indictments.
have not seen him for 20 years, but he seemed to be in an extreme end of the normal scale.
I felt sorry for him cause he could not have a normal life.
If I had to guess, based on what I saw and what I observed the paranoia and isolation got to him.
Ballmer on the other hand, I used to run into him a lot hell, he almost hit me with a golf ball once, I even saw him looking around at a garage sale one day.
If you are beyond rich but are mostly a prisoner in your own house except when you can get away to work until they force you out, or then maybe to your friends Island resort your life pretty much sucks.
Thanks for that good insight.
Not that it’s more than theoretical but if I amass a fortune I’m not giving it away. I’m going to grow it so that my lineage is strong and hopefully that my ideals endure, not some board directors whims.
These foundations such as the Gates foundation and the Clinton foundation must donate spend a certain percentage of their income every year. I think it is about 5%.
One way to spend it is to hold a conference in a five star resort for members of your board and local dignitaries to discuss how to help the situation in their country. This does not build any wells were people need water. It just holds discussions with people who might build them about a good way to do it.
The Gates foundation can donate to the Clinton foundation and the Clinton foundation can donate to the Gates foundation. There might need to be a third party.
All tax-exempt status should be ended. People who want to donate to true charities such as their own church or school or a local free clinic will still donate. The shenanigans and special deals of so many foundations would end.
“Heav’n has no rage, like love to hatred turn’d,
Nor hell a fury, like a woman scorn’d.”
William Congreve
Maybe she has seen the light!
She has 11 billion dollars and you don’t. I don’t think you are qualified to call her a fool.
All Foundations are scams.
If they want to make a world of difference. Purchase a lot of land, give it away to people ala the old Homestead act. Put in community wells, run power lines and let people work 5 10 20 or 40 acres and build a life. Of course, contingent on their making improvements year by year. Imagine the emptying of the cities as people who want to breath free have a place to go.
Or they could Bogard a lot of land, take it offline for food production and start a company that makes soylent green crackers to “feed the starving world”.
I agree.
Foundations are set up for money laundering, extortion, activism and payoffs
So only the filthy rich are qualified to spot a fool?
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