Melinda French Gates appears to be carving out her own identity as a major philanthropist — and it’s another example of a divorce shaking up philanthropy.
French Gates is reportedly no longer pledging to give most of her fortune to the Bill & Melinda Gates Foundation and will instead divide her resources among other philanthropic initiatives, including her own Pivotal Ventures company, the Wall Street Journal reported, citing unnamed sources.
French Gates seems poised to move the needle on that funding disparity. Long an advocate for women and girls, she has said she plans to target women, girls and other marginalized groups both in the U.S. and globally with her individual philanthropic efforts. In 2019, she pledged to spend $1 billion over the next decade toward advancing women in the U.S. That money will be distributed through Pivotal Ventures, an investment and “incubation” company she founded in 2015.
Since the split, MacKenzie Scott has emerged as a fast-moving philanthropic force, shelling out at least $8.6 billion in 12 months to hundreds of nonprofit organizations across the U.S. That was more than the combined amount that the country’s two largest foundations, the Ford Foundation and the Bill & Melinda Gates Foundation, handed out during the same period, Bloomberg reported.
In one case, a woman’s husband agreed to put a “considerable amount” of money into a DAF for his former wife during a contentious divorce. “The client was thrilled because she was then able to make grants for many years afterward, the former spouse was thrilled because he received a large tax deduction for the contribution to the DAF, and they were both thrilled because it was one less thing to argue about,” Nopar wrote.
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