Bill Gates Can Remove Melinda French Gates From Foundation In Two Years (nytimes.com) 49
An anonymous reader quotes a report from The New York Times: Bill Gates and Melinda French Gates have at times referred to the foundation they established together as their "fourth child." If over the next two years they can't find a way to work together following their planned divorce, Mr. Gates will get full custody. That was one of the most important takeaways from a series of announcements about the future of the world's largest charitable foundation made on Wednesday by its chief executive, Mark Suzman, overshadowing an injection of an additional $15 billion in resources that will be added to the $50 billion previously amassed in its endowment over two decades.
"They have agreed that if after two years either one of them decides that they cannot continue to work together, Melinda will resign as co-chair and trustee," Mr. Suzman said in a message to foundation employees Wednesday. If that happens, he added, Ms. French Gates "would receive personal resources from Bill for her philanthropic work" separate from the foundation's endowment. The money at stake underscores the strange mix of public significance -- in global health, poverty reduction and gender equality among other important areas -- and private affairs that attends any move made by the first couple of philanthropy, even after the announcement of their split. The foundation plans to add additional trustees outside their close circle, a step toward better governance that philanthropy experts had urged for years.
When they announced their divorce in May, Mr. Gates and Ms. French Gates noted the importance of the work done by the foundation they had built together and said they "continue to share a belief in that mission." In the announcement Wednesday, each echoed those sentiments. "These new resources and the evolution of the foundation's governance will sustain this ambitious mission and vital work for years to come," Mr. Gates said in a statement. Ms. French Gates emphasized the importance of expanding the board. "These governance changes bring more diverse perspectives and experience to the foundation's leadership," Ms. French Gates said in a statement. "I believe deeply in the foundation's mission and remain fully committed as co-chair to its work." In the immediate aftermath of the divorce announcement, it was unclear how they would share control of the institution. Wednesday's announcement indicated that if they cannot work out their differences, it is the Microsoft co-founder Mr. Gates who will maintain control, as he essentially buys his ex-wife out of the foundation. Mr. Suzman said he did not know how much she would get if it came to that. But any payout would likely be significant.
"They have agreed that if after two years either one of them decides that they cannot continue to work together, Melinda will resign as co-chair and trustee," Mr. Suzman said in a message to foundation employees Wednesday. If that happens, he added, Ms. French Gates "would receive personal resources from Bill for her philanthropic work" separate from the foundation's endowment. The money at stake underscores the strange mix of public significance -- in global health, poverty reduction and gender equality among other important areas -- and private affairs that attends any move made by the first couple of philanthropy, even after the announcement of their split. The foundation plans to add additional trustees outside their close circle, a step toward better governance that philanthropy experts had urged for years.
When they announced their divorce in May, Mr. Gates and Ms. French Gates noted the importance of the work done by the foundation they had built together and said they "continue to share a belief in that mission." In the announcement Wednesday, each echoed those sentiments. "These new resources and the evolution of the foundation's governance will sustain this ambitious mission and vital work for years to come," Mr. Gates said in a statement. Ms. French Gates emphasized the importance of expanding the board. "These governance changes bring more diverse perspectives and experience to the foundation's leadership," Ms. French Gates said in a statement. "I believe deeply in the foundation's mission and remain fully committed as co-chair to its work." In the immediate aftermath of the divorce announcement, it was unclear how they would share control of the institution. Wednesday's announcement indicated that if they cannot work out their differences, it is the Microsoft co-founder Mr. Gates who will maintain control, as he essentially buys his ex-wife out of the foundation. Mr. Suzman said he did not know how much she would get if it came to that. But any payout would likely be significant.
When people compete for control over a charity... (Score:4, Insightful)
Re:When people compete for control over a charity. (Score:5, Insightful)
... then you know that the "foundation" is certainly not that much about "charity" after all.
You are assuming that if it is about control, then it must be about money.
That is not true. I can also be about ego.
While charity and monetary gain are often in conflict, there is no reason that charity and ego need to be. Some of history's most effective philanthropists, including Carnegie, Rockefeller, Getty, had huge egos.
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Theres no evidence for any of this.
Yes Bill met Epstein a couple of times. So what? So did pretty much every other rich person in the US. Thats the thing with socialites, they socialize. It doesnt actually *mean* anything.
People have become so goddamn paranoid and disconnected from reality, its wild.
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Yes Bill met Epstein a couple of times.
Bill Gates Met With Jeffrey Epstein Many Times, Despite His Past [nytimes.com]
What We Know About Bill Gatesâ(TM)s Friendship with Jeffrey Epstein [thecut.com]
The links between Bill Gates and Jeffrey Epstein examined [theweek.co.uk] — Disclosures about affairs and non-disclosure agreements could become public during Gatesâ(TM) divorce proceedings, sources claim
Etc etc. I mean I could go on posting these links for days, each one has different details and they all describe a much more intimate relationship and mutual admiration than "m
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Disclosures about affairs and non-disclosure agreements could become public during Gatesâ(TM) divorce proceedings, sources claim
Anonymous sources mentioning possible outcomes - geez, this fiction passing as journalism never gets old, does it?
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Bill Gates doesn't care about you, except as a possible profit center.
You are never going to become the next Bill Gates.
So why defend him with your mischaracterizations? Just give no fucks about how you will be remembered? Gates cares enough about how he will be remembered to spend a bunch of money fooling suckers like you, but he's not going to actually give you any money.
Re: When people compete for control over a charity (Score:2)
Bill gates understands he can't take his money with him, and he decided to give away the vast majority of his wealth over the course of his life, rather than pass it to their children.
How did it become OK to attack a person for giving money to charity?
Gates broke no laws generating that income, compared to say, the Kennedy family, so what is your problem with him?
Understand the VAST MAJORITY of Microsoft's income comes from "corporations" and he's putting that money to good use.
What an asshole! Doesn't he k
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... then you know that the "foundation" is certainly not that much about "charity" after all. Competing for control over a foundation that is meant to save you a lot of tax, and can easily be ordered to "invest" in whatever enterprise you can profit from, that makes a lot of sense.
The B&MG foundation always had one purpose: to buy Bill a reputation as something other than a scumbag.
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The B&MG foundation always had one purpose: to buy Bill a reputation as something other than a scumbag.
Pretty much all philanthropy on the part of the wealthy falls into this category, Gates is not special here. See also Carnegie, Rockefeller, Nobel, Hershey, Ford, etc.
That said, "want to build a legacy," "actual care for your fellow man," and "a sense of obligation to do use one's resources to help the less privileged" are not mutually exclusive.
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The B&MG foundation always had one purpose: to buy Bill a reputation as something other than a scumbag.
Very much so. And to anybody that has really looked at what it does, it has utterly failed to do so.
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>The B&MG foundation always had one purpose: to buy Bill a reputation as something other than a scumbag.
How many billions of dollars do you have to give away before it meets your incredibly high standards? I assume you hold yourself to the same standards.
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How can this comment be modded insightful? There isn't a thing insightful in there.
Using a charity to save you taxes? Surprise surprise...another person who doesn't understand how tax deductions work. You donate $1 to charity, and you don't save $1 on your taxes. You save $1 multiplied by your taxable rate...so 10 to 40 cents on the dollar. Bill doesn't need a charity to give him back 40 cents on the dollar...I'll gladly do that for him for as many dollars as he want me to process.
Getting the charity to inv
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They don't have to update their identity. However many do include their maiden names, or completely roll back to them.
This is the case because it is customary (but not a rule or law) for a woman to change their last name after they get married. So after a divorce it is common for them to get rid of that name as well. They don't have to do that as well.
If this is something you are going to go on some crazy Fox News Boomer Rant about, It is a practice that has been common for over a hundred years.
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I wanted to mod your cool indifference up.I did.
But god damn it, and I know it is astrologically pedantic, the sun rises on the dark part of the planet when it sets here.
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Bad punctuation on my part, possibly. Above about 67 deg N latitude, the sun isn't setting at all today. or yesterday. So it isn't setting or rising north of there...just spinning in circles. Most of the planet will have a sunset and a sunrise today, but not above 67N.
Meh. Gates. Meh. Sun. Meh.
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I know it is astrologically pedantic
It's ok, you're probably a Virgo...
But if you wanted to be astronomically pedantic, you'd point out that never more than 50% of the Earth is hidden from the sun. So "darkness over most of the planet" due to a solar cause would indeed be major news.
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>So "darkness over most of the planet" due to a solar cause would indeed be major news.
Eclipse? //virgo
french gates? (Score:5, Funny)
I knew about AND gates and OR gates.
but french gates?
ok, I surrender.
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That's pretty good. It's not quite good enough for me to mod you up on a thread I haven't commented on, but it's pretty close.
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but french gates?
They involve tongue. Lots of tongue.
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I wonder if her publicist is getting journalists to use her full name in an effort to differentiate herself from Bill. Perhaps she agreed to an interview on that condition, but I don't know how these things work. Maybe all she had to do was ask.
Or did she actually change her last name to French Gates? (In the US, is a last name even legally distinct from the last part of one's whole name?)
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In the US, is a last name even legally distinct from the last part of one's whole name?
Surname is a separate field on government forms, so I think yes.
To confirm I just looked up the form [utcourts.gov] my state uses for legal name changes, and it has three fields for both current name and the requested new name: "First name", "Middle name(s) (if any)", and "Last name". In Washington state it appears that each county has its own process and forms, but the form [kingcounty.gov] for King County, where Microsoft and Gates' mansion are located and where I expect Melinda would file any name change requests, also has three se
Tweedledee and Tweedledum (Score:1, Troll)
One of them gave us Longhorn and the other gave us Bob. Can't shed a tear for either.
It's almost a TV show... (Score:1, Flamebait)
I was in the same building as a Melinda and Gates office in 2000... and Bill was a childhood friend of mine. They've got a serious problem. What is he supposed to do with all this money Microsoft made for him?
So, think about how Suze Orman handled it in the final episodes of her CNBC show... "You can't afford it, but I can!" giveaways was all she had left. Rich people, as they grow old, want to see their wealth spent.
So this was Melinda's idea, and it's a life-in-front-of-you moment to think anything you co
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Actually it was started by Bill's dad and taken over by Bill and Melinda. But don't let facts get in the way of a good conspiratorial fake news meme.
Bill from microsoft to massive endowment (Score:2)
an injection of an additional $15 billion in resources that will be added to the $50 billion previously amassed in its endowment over two decades.
well now that he is divorced when he gets back in the dating scene he can talk about his massive endowment and not his micro-soft that he had last time he was single.
Melynda (Score:2)
>"in May, Mr. Gates and Ms. French Gates noted"
Bizarre. Her first name is "Melinda" not "French." Perhaps they mean "Ms. French-Gates"?
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Some people with multiple last names prefer not to hyphenize them, and I don't see why the rest of us should care one way or the other.
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Some people with multiple last names prefer not to hyphenize them,
Well, then they're not last names, they're middle names and she's plain Melinda Gates until she does something about it.
You can self-identify as the Queen of Sheba; doesn't mean anyone else has to listen.
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If this Melinda lady was pretending to be something/someone she isn't, then you would have a point. But she's not. She's just picking one arbitrary name over another arbitrary name. If anything, "French Gates" is more valid because presumably that is her legally recognized name.
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If this Melinda lady was pretending to be something/someone she isn't, then you would have a point. But she's not. She's just picking one arbitrary name over another arbitrary name. If anything, "French Gates" is more valid because presumably that is her legally recognized name.
Then she needs a hyphen in there. She can afford one.
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As mentioned elsewhere...my last name is older than your country (if you're a Yank). Two words. No hyphen. Make up your own silly rules if you like. Don't bother applying them to me.
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>"Some people with multiple last names prefer not to hyphenize them, and I don't see why the rest of us should care one way or the other."
Because part of communication is the ability to understand what is transmitted. And when two name words are offered, people understand that to be first name and last name. Not last and last, not first and middle, not first and first, not middle and middle, or middle and last. That is why when the silly practice of multiple last names appeared, the convention was/is
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If I'm right in assuming you're American, then my two-word, unhyphenated last name is about three times as old as your country, and certainly older than the communications media you're talking about. Your claim that the "when the silly practice of multiple last names appeared, the convention was/is to use a hyphen to make it a single word" is utter, ignorance-based bullshit.
Deal with it.
Good news (Score:2)
You can perhaps complain about a multi billionaire getting to decide where the money gets spent as opposed to say the World Health Organization spending it but this is good news that they both want the work of the foundation to be protected from their divorce. They do in fact make substantial contributions towards WHO disease eradication programs. The Gates and latterly the Bill and Melinda Gates foundation is one of the key movers in saving the world from the current pandemic alongside nation states. Repub
Note this important detail (Score:2)
The super-rich use these foundations to shield their wealth. If she can't get her expenses covered by the Gates Foundation, she'll take money from him to create a new tax shelter of her own.
It's the same game played by the Clinton Foundation. Sure, they do some charity work, but that's incidental to the real purpose.
True Feminist (Score:2)
Melinda Gates: true feminist. To show her commitment to feminism, she is refusing to accept any part of Gates's fortune.