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Due to her hectic schedule, running two businesses – event styling business Pretty Little Pink Book and women’s group My Go To Gal – alongside a full-time job as a writer, the doctor put her condition down to stress.
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.
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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.
New plans submitted to West Oxfordshire District Council explain that it needs to build an area ‘for use by guests and members where they can use their mobile phones and laptops away from the existing dining/lounge spaces’.
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.
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.
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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