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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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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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Sir Richard Branson will fly to the edge of space on a spaceplane built by his own company on Sunday, declaring it is ‘time to turn my dream into reality,’ as he takes to the stars nine days before rival Jeff Bezos.
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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.
Branson denied that he and Bezos were in a ‘battle of the billionaire space founders’ to see who would go up first, despite changing from the second to the first VSS Unity test flight in order to go up before Bezos.
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 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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Virgin Galactic founder, Sir Richard Branson, moved his trip to space to an earlier test flight after Jeff Bezos announced he was going up, but claims no rivalry, saying ‘we both wished each other well’
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