5 reasons why the Bill and Melinda Gates divorce is an ‘earthquake’ for philanthropy

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 86 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 38%
  • Publisher: 97%

The breakup of one of the world’s wealthiest — and most generous — couples is sending shockwaves across the world of philanthropy, with some likening the split to an “earthquake.” Here are 5 numbers that explain why:

United States Headlines News

United States Latest News, United States Headlines

The breakup of one of the world’s wealthiest — and most generous — couples is sending shockwaves across the world of philanthropy, with some likening the split to an “earthquake.”Bill and Melinda Gates, who are divorcing after 27 years of marriage, preside over the largest private charitable foundation in the world, one whose giving has been in the spotlight during the pandemic as one of the top funders of vaccine research and distribution.

“Just the fact that this divorce causes so much global anxiety is an indication that it’s problematic that a single foundation would have that much power,” said Megan Tompkins-Stange, a University of Michigan public policy professor and author of a book on how foundations, including the Gates Foundation, influence U.S. education policy.

The Gates Foundation also is not particularly open about its day-to-day operations, Morey said, adding another layer of uneasiness for nonprofits watching from the outside. “No changes to their roles or the organization are planned,” a press representative for the foundation said in a statement. “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.”Three board members The Gates Foundation’s board of trustees consists of three people: Bill Gates, Melinda Gates and Berkshire Hathaway BRK.A, +0.

$49.8 billion endowment That’s the amount of money the foundation is sitting on, thanks to donations from Bill and Melinda Gates and Buffett. It’s more than some countries’ GDPs, some have pointed out. The Gates Foundation has more than 1,600 employees and deployed $5.1 billion in grants across the globe in 2019. To understand its size, consider that the second-largest foundation in the U.S., the Ford Foundation, has an endowment of $14 billion and made $560 million in grants in 2019.

However, there are cases in which families dissolve a private foundation and create two new ones, or transfer the assets to another charitable entity, such as a donor-advised fund, according to the California law firm Hanson Crawford Crum.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

AYA fintech network platform provides proprietary alpha stock return estimates and personal finance tools for U.S. stock market investors and traders.

Yep sad as like a US king and Queen saying and doing great things but lots of money drives many options and makes change of path easier perhaps 🤔

I wonder if Maxwell dropped some dirt on Gate’s unapologetic relationship with Epstein, and Mrs. Gates is heading off the news...

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bill and Melinda Gates just announced their divorce — here's a breakdown of the billionaire's wealthOn Monday, Bill and Melinda Gates announced plans to divorce. Though the terms of their separation agreement have not been made public, here's a breakdown of Bill Gates' wealth, according to wealth data company Wealth-X. Glamorizing the insane wealth of one individual is a disgusting comment on the health of society, especially when that individual acts like an agent of progress and change. He is like Obama in many ways. Cause it’s any if our business
Source: CNBC - 🏆 12. / 72 Read more »

The Separate Worlds of Bill and Melinda GatesBill Gates and Melinda French Gates were stuck at home. When the pandemic hit last March, the couple retreated to their 66,000-square-foot home on the shore of Lake Washington, venturing out infrequently to minimize their potential exposure to the virus. From their home offices they continued running the influential foundation that bears their name, video chatting with world leaders to secure financial commitments for vaccine distribution, and talking about the health of American democracy with their youngest daughter, who was finishing her senior year of high school remotely. For a couple who had spent much of the past three decades traveling the world, so much time together at home was an abrupt change of pace. “Working from home — that was a piece that I think we hadn’t really individually prepared for quite as much,” she told The New York Times in October. Sign up for The Morning newsletter from the New York Times In a November podcast, Bill Gates also spoke about adjusting to life at home after decades on the road. “My life has changed utterly,” he said. “It’s very abnormal.” Now, life has changed in another way, too. The news on Monday that the power couple of global philanthropy would be dissolving their marriage sent shock waves through the field. For those who, unlike the Gateses, had never thought about mRNA vaccines before COVID-19 hit, the pandemic brought home in the clearest way possible just how influential their foundation is in the field of global public health. And the divorce announcement, and subsequent spotlight, has made clear how dependent such an essential organization is on its ultrawealthy founders. Foundation staff members were surprised by the announcement. Bill Gates, 65, and Melinda French Gates, 56, are both hands-on leaders, and much of the power of the foundation lies not just in the billions of dollars they have given it but also in their public standing and connections. But for years the couple had already been building out closely Essential to the pandemic in way more than we know, I'm sure.
Source: YahooNews - 🏆 380. / 59 Read more »

Melinda Gates Was Meeting With Divorce Lawyers Since 2019 to End Marriage With Bill GatesMelinda Gates met with divorce lawyers in 2019, say people familiar and documents reviewed by WSJ. One concern: her husband's dealings with Jeffrey Epstein. All centi billionaires ensnared looks like? Elongate especially But why would that a concern ? You didn’t seem to think it was a big deal when trump had clear connections to the human trafficker. So why? 🤔 Et tu Brute?
Source: WSJ - 🏆 98. / 63 Read more »

Melinda Gates sought to divorce Bill Gates since at least 2019: WSJBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Psh, bet bill gates didn’t buy Siacoin and she realized he had small pp energy. (Not financial advice, just pp advice) God is holy, we must also be holy. Accept Jesus Christ (hope) Holy Spirit ( Righteousnes) Magazin.😊 'Zenginin parası fakirin çenesini yorarmış' çenem yoruldu.😂
Source: BusinessInsider - 🏆 729. / 51 Read more »

Bill, Melinda Gates timed divorce to avoid Warren Buffett event: NYTBill and Melinda Gates timed their divorce announcement not to clash with Warren Buffett's annual shareholder meeting, NYT report says Akcje również padły. Inbox to learn more on the world of crypto, learn how to own your trading account and guide through withdrawal process With $1000 in a week your sure of $6300 Surprises are back stabbing by opportunists.
Source: BusinessInsider - 🏆 729. / 51 Read more »