Melinda French Gates has announced that she will be resigning from the philanthropy mega foundation that she established with her ex-husband, Microsoft co-founder Bill Gates.
"After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation," she wrote in a statement posted on social media, adding the resignation would become effective on June 7.
Under the terms of the agreement, Melinda will receive an additional $12.5 billion which she will use for her own charity work for the welfare of women and families.
"under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families", Melinda said in the statement.
The foundation, established with the vast wealth that the couple acquired through the success of Microsoft, is one of the most influential in global philanthropy, with a focus on preventable diseases and child poverty.
The foundation's website says it has spent $53.8 billion since the year 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.
[With inputs from AP]
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