Bill Gates and Melinda French Gates have divorced. This comes three months after they announced their split for the first time. Bill and Melinda Gates are philanthropists.
On Monday morning, the couple’s divorce was granted by the King County court in Washington state, officially ending their 27-year marriage.
According to reports, neither party will receive spousal support, and all property will be divided in accordance with a separation agreement.
Washington state law requires a 90-day waiting period between the filing of a divorce and the finalization of the divorce.
In a joint statement in May, Gates, 65, and French Gates, 56, announced their divorce, saying they no longer “believe we can grow together as a couple in this next phase of our lives.”
On Monday, the divorce paperwork was finalized. Melinda Gates has stated that she will not change her name. She would not be granted spousal support, which French Gates stated in her original filing was not required.
After meeting at work, Bill Gates married Melinda French in 1994.
The divorce sparked speculation about how the couple’s business and charitable endeavors would be affected. For the past 20 years, it has been regarded as the world’s largest private philanthropic organization.
The couple also pledged an additional $15 billion to the organization. That money will go to the foundation’s endowment, which stood at around $50 billion prior to the announcement and has given away roughly the same amount over the last two decades.
Following their divorce, both have agreed to continue running The Gates Foundation together, they announced last month. According to its financial statements, the foundation’s assets are worth nearly $50 billion.
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For the past 20 years, it has been regarded as the world’s largest private philanthropic organization.
Gates, who founded Microsoft in 1975 and owns 1.3 percent of the company’s stock, is a multibillionaire and one of the world’s wealthiest people. He has not been the CEO of Microsoft since 2000, and he stepped down from the board last year.
According to the index, Bill Gates is now worth more than $150 billion.