'Pakyeong' Gates Couple to Change Operational Structure of Jointly Managed Charity Foundation

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Bill Gates, the founder of Microsoft (MS), and Melinda French Gates, who have attracted attention for their "divorce of the century," are reportedly pushing for changes in the operational structure of the charitable foundation they jointly run.

The Wall Street Journal (WSJ) reported on the 27th (local time), citing sources familiar with the matter, that "Bill and Melinda are discussing forming a board of directors for the foundation and bringing in external directors."

The Bill & Melinda Gates Foundation has been led by trustees and co-chairs Bill and Melinda, along with another trustee, Warren Buffett, chairman of Berkshire Hathaway.

The foundation was launched in 2000 by merging the foundation Bill's father established in 1994 and the foundation Bill founded in 1997. It grew significantly after Buffett pledged to donate most of his assets to the foundation in 2006.

As of December 31 two years ago, the fund was valued at $49.8 billion (approximately 55.67 trillion KRW), making it the world's largest private charitable foundation. Bill and Melinda have contributed a total of $36.8 billion (approximately 41.146 trillion KRW) from 1994 until last year.

Mark Suzman, CEO responsible for the foundation's daily management, told employees last week, "In the situation where the co-chairs are divorcing, we are actively discussing with Bill and Melinda ways to strengthen the foundation's stability and long-term sustainability."

He added, "Bill and Melinda have reaffirmed that they will work together and remain committed to the foundation's mission," and "no decisions have been made yet."

Bill and Melinda announced earlier this month that they have decided to end their 27-year marriage. Upon announcing their divorce, they stated that they will continue to operate the foundation together.

This content was produced with the assistance of AI translation services.