Melinda French Gates has reportedly decided not to give the majority of her wealth to the Gates Foundation. Instead, according to a report in The Wall Street Journal, she will spread it out among numerous philanthropic endeavors. Sources have said that she made the decision last year, around the same time she sent out her first solo letter for the Giving Pledge. “Along the way, I cofounded the Giving Pledge in 2010 and committed to giving away the majority of my resources in my lifetime. Today, I’m reaffirming that commitment,” Melinda wrote. “In the last two decades, I’ve seen that, at its best, philanthropy plays a unique role in driving progress by taking investment risks that others can’t or won’t to explore new ways of solving old problems.”
In addition to her work with the Gates Foundation, Melinda also founded Pivotal Ventures in 2015. The charitable organization supports “innovative solutions to problems affecting US women and families.” Through Pivotal, she has also worked with MacKenzie Scott, the ex-wife of Jeff Bezos, who has a $50.9 billion fortune. Together, the women have given $40 million to support gender equality (per Bloomberg).