Microsoft founder Bill Gates announced his divorce from his wife Melinda in a tweet on the 3rd, ending a 27-year-long marriage. As the 65-year-old Gates is currently the world’s fourth richest man, whether the divorce will lead to a shrinking fortune, and whether Melinda is among the list of rich women, so the outside world is very curious.
It is not yet clear the financial details of Gates and Melinda’s divorce, but the couple is certainly the second case of heavy divorce in recent years among the world’s richest ranked rich people. Previously, the world’s richest man, Amazon founder Bezos and MacKenzie Scott (MacKenzie Scott) divorce, MacKenzie immediately jumped to the world’s richest woman, she also became one of the world’s most influential philanthropists.
However, Gates’ wealth may be more difficult to “divide” than Bezos’ because Bezos’ wealth is largely concentrated in his Amazon holdings, while Gates’ wealth was originally derived from Microsoft, but Gates’ current Microsoft holdings account for less than 20% of his assets.
Gates has transferred most of his Microsoft holdings into the Bill & Melinda Gates Foundation over the years, and has not disclosed his current holdings since he left the Microsoft board last year.
Gates’ largest asset is now the holding company Cascade Investment, which he set up with proceeds from the sale of Microsoft stock and dividends, and which is run by Michael Larson. Through Cascade, Gates has holdings in real estate, energy and hotels, as well as dozens of public companies, including Canadian National Railway and Deere & Co.
The divorce between Gates and Melinda, 56, will certainly affect his ranking in the global rich list, but the two stressed that the divorce will not have much impact on their vast philanthropy, and that both “will remain co-chairs and trustees of the Bill & Melinda Gates Foundation.
Divorce attorney Monica Mazzei, a partner at San Francisco law firm Sideman & Bancroft, said one of the big concerns is the extent to which the two plan to work together in the future at the Gates Foundation and family office.
Mazzei said, “Even the most peaceful divorces I’ve seen have preferred to split the foundation in two to have more autonomy and less entanglement.” The same principle applies to the family office, which typically splits the investment in half.
Gates and Melinda currently reside in Washington, D.C., where a community property regime is adopted for spouses. Mazey explained that this means that any property acquired by a couple during the marriage is held jointly and equally by both parties.
It is impossible to tell at this time on whether Gates and Melinda signed a prenuptial agreement.
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