Bill and Melinda Gates to divorce with USD 146 billion at stake

They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction

It comes as shocking today to the Netizens that Bill and Melinda Gates, the richest couple with dozens of philanthropic activities are set to get divorced. The announcement came on Monday that the couple is separating after 27 years of marriage. This is to see what this led to the fate of one of the worthy technology industry.

The vast portfolio of business and real estate holdings and into the realms of global health, climate change policy and social issues including equality for women. The pair has estimated $146 billion, according to the Bloomberg Billionaires Index, they emphasized that they will cooperate on continuing their philanthropy.

On Twitter both of them had posted: “After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the two said in a brief statement posted on Twitter. “We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.”

Bill Gates, the 65-year-old co-founder of Microsoft Corp., ranks as the world’s fourth-richest person. Melinda Gates, 56, is a former Microsoft manager who’s gained international prominence co-running the Bill & Melinda Gates Foundation. It’s already given away more than $50 billion.

They will remain co-chairs and trustees of the foundation, a spokesperson for the organization wrote in an emailed statement. According to the statement “No changes to their roles or the organization are planned.” “They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction.”

The couple filed for divorce in King County on Monday.They have a separation agreement, it calls their marriage “irretrievably broken.”

The separating assets of the couple potentially poses a bigger challenge for technology industry. Bill Gates’s net worth originated with Microsoft but shares of the software-maker now probably make up less than 20% of his assets. He’s shifted much of his stake into the Bill & Melinda Gates Foundation over the years and his exact stake hasn’t been disclosed since he left Microsoft’s board last year.

Gates’s biggest asset is Cascade Investment, a holding company he created with the proceeds of Microsoft stock sales and dividends that’s run by Michael Larson. Through Cascade, Gates has interests in real estate, energy and hospitality as well as stakes in dozens of public companies, including Canadian National Railway and Deere & Co.

Washington law may offer some clues to how they divide their assets. As a community property state, anything acquired during a marriage is considered equally owned by both partners, but that doesn’t necessarily mean the fortune would be split in half. The public might never find out how they split the fortune, because it can be hidden behind private contracts, she said.

Washington commands a 90-day cooling off period from the day a couple initially files for divorce before the process can be finalized by a judge. The couple’s divorce filing -- listing Melinda as the petitioner and Bill as joining, with both of them signing -- asks the court to dissolve their marriage on a date noted in their separation agreement. The pair met in New York in the 1980s, early into Melinda’s time at Microsoft.

The couple’s philanthropy has always been deeply rooted in their relationship and marriage. It was on a trip to Africa during their engagement that the couple decided they would become serious philanthropists. The couple has three children of age 25, 23 and 18.

India Scanner News Network

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