Celebrity Divorce Lawyer Christopher C. Melcher on Bill & Melinda Gates' Divorce & Their Foundation

Описание: Microsoft co-founder Bill Gates and his wife, Melinda are calling it quits after 27 years of marriage and experts say the split will have wide-reaching implications. The couple announced their split earlier in May. They're reportedly worth about $128 billion together. Many are looking to see what becomes of the Bill and Melinda Gates Foundation charitable organization with a $50 billion endowment used to tackle health issues around the world.

The couple does not have a prenuptial agreement and is instead parting ways with the help of a separation agreement. Well, joining me now to unpack all of this is high net worth celebrity divorce lawyer Christopher C. Melcher. Christopher is a top family law attorney based out in Los Angeles, California.
This will be a much-watched divorce, especially in the tech world. How much money and assets have been accumulated by this couple, over these 27 years and how did they build this empire?

Christopher: It's this phenomenal wealth, money that really we have rarely seen. And most of it happened during the marriage. Obviously, Bill was very wealthy before he married Melinda, but the estate grew wildly during the marriage. All of this has been worked out though, which is really remarkable as opposed to most divorces where they declare that they're separating and then we have to wait and see how things are going to be divided.

Certainly seems like a very organized process they have. I want to talk about the shift that they made to philanthropy and the wide-ranging issues that the Gates Foundation chooses to fund and support. What are the real highlights there?

Christopher: Well, it started with a trip to Africa where I think it brought into focus or relief the enormous wealth that this couple has compared to what many people in the world live off of. They've created what's probably the largest charitable organization ever and have given away already $50 billion. And I believe have another 50 billion still there that's endowed.

Do we know how much these investments and the divorce itself might impact funding for some of these causes that they support?

Christopher: Well, the funding is there for the Gates Foundation, so they can't take away or change the funding that they've already given to the foundation. That belongs to the Gates Foundation. What might be impacted though, is future giving. Are they going to continue to give to this foundation or will they create separate or different foundations? What is the focus of the Gates Foundation going to be? I would imagine that they'll still be involved in it, but they may rebrand it because it's the Bill and Melinda Gates Foundation, which they're no longer a couple. So we may see a name change, and we also may see separate endeavors within the foundation. One that Bill is more interested in versus one that Melinda wants to pursue.

Now, something that they've already committed to is obviously their donations to COVID. Break down the foundation's role in COVID say, vaccine funding coordination, education, etc.
Christopher: Well, I mean, it's been at a level of some other countries have provided support. So this is dealing with vaccines and also distribution.

Now, we also know you mentioned this a little bit earlier. The couple also founded The Giving Pledge with billionaire investor Warren Buffet, which encourages wealthy people to give away the bulk of their money. What do we know about any developments or changes regarding that campaign?
Christopher: Well, Warren Buffet has contributed to the Gates Foundation. He's done The Giving Pledge. We've seen in the Bezos's divorce, large sums of their money being donated and including after the divorce where MacKenzie had given away large amounts of her estate also. So this is something that's not just about them, that they have encouraged other folks who have this incredible fortune to do something with it. And particularly during their lifetimes, rather than waiting as most do, until after they've died to give it away in a will.

How do the financial implications and fallout compare to the Bezos divorce?
Christopher: Well, it's very similar in terms of the magnitude of the wealth, the quietness in which they resolved their divorce. They've settled everything without fighting. It's really a model for how the rest of us should behave. Because obviously it's easier when you have over 100 billion dollars to divide things and not worry about your financial security, but many people would've fought over that level of funding. And so here we have two couples around the same time divorcing without fighting, resolving everything amicably. And that's really how all of us should be doing it.

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