Melinda French Gates is one of the most influential philanthropists in the world. As co-founder of the Bill & Melinda Gates Foundation, the largest private charitable foundation in the U.S., she spearheaded donations of totaling $77.6 billion in grants since its inception in 2000. However, Gates will be resigning from the foundation as of June 7th, 2024.
French Gates is stepping down as the co chair of one of the world's largest private charitable foundations and is now shifting gears to focus on pivotal ventures.A venture capital firm she founded in 2015, its goal to direct capital to people outside the most white male business start up ecosystem.
Pivotal ventures has invested in over 100 and 50 organizations like EVs A wealth management company by Women for Women, founded by former banking executive, Sally Ruche and the National Partnership for Women and families, a nonprofit seeking to attain equality for women. And people just literally don't understand their businesses because they don't have a person of color in their venture capital space or they don't have a woman.According to a recent mckinsey report, companies founded solely by women garnered less than 2% of the total capital invested in VC backed start ups and only 1/10 of a percent of VC funds went to Black and Latino women founders.I, I think there are places we can invest and I can make money within the VC space.
And ultimately, I think in the United States, you know, it's also time to have a female president at some point.You are biased when a person walks into the room, we have built in beliefs because of what society has told us.And so it's actually hard for us to imagine in some ways.But I believe if we have more women in state houses, more female governors, more women on the hill, you are going to see a female in the White House in my lifetime, Linda, you should run.
How have you been shaped by Warren Buffett and his views on leadership and, and even life when both Bill and I were struggling with my gosh, we're getting all these letters amazing causes a child who has cancer, et cetera. I mean, how is like leading at the foundation when you're in that room and you have to make tough decisions with Bill in the room.
And somehow we were both able to rise to our higher selves to at least run the foundation, not always in the specifics of various things at home, but in that piece.And I would say, Mark Suzman, the CEO has been remarkable about changing the decision making because we're not making decisions at home together as much anymore.
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