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Questions & Answers about fate of the Gates’ fortune after divorce

Expectedly so, the divorce is creating new questions about the fate of the Gates fortune, much of which has not yet been donated to the Gates Foundation.

Mr. Gates, 65, who co-founded Microsoft, is one of the richest people in the world, worth an estimated $124 billion, according to Forbes. The Gateses have been married for 27 years and have three children, ages 18 to 25.

“The Gates Foundation is the most important and influential philanthropic entity in the world today,” said Rob Reich, a professor of political science at Stanford University. “The divorce may have huge repercussions for the foundation and for its work across the globe.”

With 1,600 staff members in offices around the world, the Gates Foundation gives away roughly $5 billion each year in areas like global public health and development. Over more than two decades, the foundation has spent billions to push vaccines to the developing world, working with pharmaceutical executives to transform the market.

The foundation tapped its expertise and relationships to play a significant role in formulating the global response to the pandemic, investing early in vaccine candidates and helping shape Covax, the global initiative organizing the purchase of vaccines for 92 poor countries and dozens of other nations.
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Mr. and Ms. Gates have won great praise for their efforts, but the foundation has also received a fair share of criticism for working to protect the intellectual property rights of private companies. That has come into focus now more than ever as many national governments have pressed for open access to Covid vaccines to put an end to the pandemic.

“Bill and Melinda Gates helped pioneer big philanthropy in its present form,” said David Callahan, founder of the website Inside Philanthropy. “Everything has been outsized.”

A former member of the staff who worked with both Gateses said people in the foundation’s orbit were texting and emailing one another after hearing the news, trying to figure out what had happened and what it might mean for the foundation.

The consensus was that it would be fine for the time being, the former staff member said, but there were questions about what the effect would be — depending on how amicable the divorce is and how they work together going forward — the next time it came time to review strategies and future plans.

“While this is obviously a difficult time of personal change for our co-chairs, together they have assured me of their continued commitment to the foundation that they have worked so hard to build together over the past 20 years,” the foundation’s chief executive, Mark Suzman, told employees in an email Monday.

He described “some short-term adjustments to their schedules,” but said both would continue to participate in meetings inside and outside the foundation, and would speak to staff directly at the upcoming annual employee meeting.

While the Gateses did not provide details of how they would structure their finances, they are believed to have a prenuptial agreement.

The Gateses are the largest owners of farmland in America and have vast investments though Cascade Investment, which manages Mr. Gates’s personal wealth and owns large stakes in the Four Seasons hotel chain, the Canadian National Railway and AutoNation, the country’s largest chain of car dealerships, among other companies.

The family’s homes and properties include a 66,000-square-foot Washington State mansion, which features amenities such as a trampoline room, a screening room and a multiroom library filled with rare documents and artifacts.

Mr. Callahan said Ms. Gates, 56, could assume even more influence in the years ahead.

She already has her own firm, Pivotal Ventures, which she has used to invest in issues related to women’s economic empowerment. (Mr. Gates has his own private office, Gates Ventures, for pursuing interests outside the foundation.)

Should she receive a portion of Mr. Gates’s Microsoft holdings, she could set up a new foundation or make direct gifts to other causes she supports.

“You could imagine Melinda Gates being a much more progressive giver on her own,” Mr. Callahan said. “She’s going to be a major force in philanthropy for decades to come.”

In 2019, Jeff Bezos, the founder of Amazon, and his longtime wife, MacKenzie Scott, divorced. Ms. Scott received Amazon shares worth $36 billion at the time and immediately set about giving away billions of dollars in direct grants to a variety of progressive organizations.

Mr. Gates has recently stepped back from some of his business activities. Last year, he left Microsoft’s board of directors, as well as the board of Berkshire Hathaway, the conglomerate run by his close friend Warren Buffett.

Mr. Buffett has donated billions of dollars to the Gates Foundation over the years and has pledged to leave the majority of his fortune to the foundation when he dies. In 2010, Mr. Buffett and the Gateses created the Giving Pledge, an effort to get wealthy individuals to commit to donating a majority of their money to charitable causes.

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