The co-founder of the Bill and Melinda Gates Foundation, Melinda Gates has decided to give away her fortune to philanthropic organisations but not just to the Gates Foundation.
Melinda Gates released an official letter clarifying that she will not be giving the majority of her wealth to the Gates Foundation. The Wall Street Journal reported that Gates will largely distribute her fortune outside of the Gates Foundation.
Melinda Gates Fortune To Go To Philanthropic Organisations:
Gates wrote in a new letter, "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 to give it away – as thoughtfully and impactfully as possible."
The billionaire added that the ultimate goal of any philanthropist should be to render the need for philanthropy obsolete.
She added, "It’s important to acknowledge that giving away money your family will never need is not an especially noble act. There’s no question in my mind that the real standard for generosity is set by the people who give even when it means going without." Melinda Gates wrote that she commits to do "more than just writing checks".
Suggested Reading: Bill And Melinda Gates Divorce: 6 Revelations That Came To Light
"I also commit my time, energy, and efforts to the work of fighting poverty and advancing equality – for women and girls and other marginalized groups – in the United States and around the world," she added.
Bill and Melinda Gates had launched The Giving Pledge in 2010 alongside Warren Buffet. Through the campaign, world's richest people are encouraged to dedicate the majority of their wealth to charitable causes. During that time, both Melinda and Bill Gates had announced that they have "committed the vast majority of our assets" to the Gates Foundation in an effort to address preventable deaths and diseases for "tearing down other barriers of health and education."
In 2021, the couple got divorced and both of them wrote individual letters mentioning their different philanthropic commitments. Melinda Gates had founded Pivotal Ventures in 2015 which is an investment and incubation company seeking to increase professional and social progress of women and families across the US.
Melinda Gates in her letter reiterated that she will still give away majority of her wealth to philanthropic. She wrote, "I think philanthropy is most effective when it prioritizes flexibility over ideology – and why in my work at the foundation and Pivotal Ventures I’ll continue to seek out new partners, ideas, and perspectives."
/shethepeople/media/agency_attachments/iUYfaBbcMozaYLoGnoov.png)
Follow Us/shethepeople/media/post_banners/lAneWDKlhKYfMHdQx2l4.jpg)