Wednesday’s announcement also comes after billionaire investor Warren Buffett in June said he was resigning as a trustee of the foundation, and had donated half his wealth to philanthropy since pledging 15 years ago to give away his fortune from running Berkshire Hathaway Inc.
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The foundation said the controlling billionaire benefactors, Bill and Melinda, will contribute $15 billion, their single largest contribution since 2000, bringing the total endowment to about $65 billion.
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The contingency plan for one of the world’s largest philanthropic foundations was announced website by Chief Executive Officer Mark Suzman, a move that would ensure a successful transition for the foundation that has spent over $50 billion in the past two decades toward combating poverty and disease.
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July 7 (Reuters) – The Gates Foundation said Melinda French Gates and Bill Gates, in the midst of a high-profile divorce, will continue to work as co-chairs for a two-year trial period and after that time if the arrangement unravels, she would step down.
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An embarrassing bug that on iOS and Mac has surprised many Apple users. The problem occurred when you tried to place a call, but before the call connected, you could hear the audio of the person on the other end. Apple took over a week to respond to the flaw, which has prompted an investigation from the New York attorney general’s office.
If Melinda resigns after two years, she would receive personal resources from Bill for her philanthropic work, which would be completely separate from the foundation’s endowment, the foundation said in a blog post on Wednesday.
