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Bill and Melinda Gates to divorce, but charitable foundation to remain intact

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(Last Updated On: May 4, 2021)

Billionaire benefactors Bill and Melinda Gates, co-founders of one of the world’s largest private charitable foundations, filed for divorce on Monday after 27 years of marriage but pledged to continue their philanthropic work together.

The Bill & Melinda Gates Foundation has become one of the most powerful and influential forces in global public health, spending more than $50 billion over the past two decades to bring a business approach to combating poverty and disease.

The Gates have backed widely praised programs in malaria and polio eradication, child nutrition and vaccines. The foundation last year committed some $1.75 billion to COVID-19 relief.

In a joint petition for dissolution of marriage, the couple asserted their legal union was “irretrievably broken,” but said they had reached agreement on how to divide their marital assets. No details of that accord were disclosed in the filing in King County Superior Court in Seattle.

Bill Gates, 65, who co-founded Microsoft Corp (MSFT.O), and his spouse, Melinda French Gates, 56, met after she joined the software giant as a product manager, and they dated for a few years before marrying in January 1994 in Hawaii.

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the two said in a joint statement posted on each of their individual Twitter accounts.

“We no longer believe we can grow together as a couple in the next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life,” they said.

The divorce petition, which states that the couple have no minor children, comes after the youngest of their three offspring recently turned 18.

Launched in 2000, the nonprofit Bill & Melinda Gates Foundation ranks as the largest private philanthropic foundation in the United States and one of the world’s biggest, with net assets of $43.3 billion at the end of 2019, according to the latest full-year financials shown on its website.

From 1994 through 2018, the couple gifted more than $36 billion to the Seattle-based foundation, the website said.

Last year, investor Warren Buffett reported donating more than $2 billion of stock from his Berkshire Hathaway Inc (BRKa.N) to the Gates Foundation as part of previously announced plans to give away his entire fortune before his death.

‘NO CHANGES TO THEIR ROLES’

In their divorce petition, the couple asks the court “to dissolve our marriage” and to divide their communal property, business interests and liabilities “as set forth in our separation contract,” though that accord was not made public.

Bill Gates is ranked No. 4 on the Forbes list of the world’s wealthiest individuals, with an estimated $124 billion fortune.

In a separate statement, the Gates Foundation said the couple would remain as co-chairs and trustees of the organization.

“They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction,” the foundation’s statement said.

The split comes two years after another leading Seattle-based billionaire and philanthropist, Amazon.com Inc (AMZN.O) founder Jeff Bezos, said that he and his then-wife, MacKenzie, were getting divorced.

At least one critic of billionaire benefactors cited the Gates’ split as a cautionary tale in the wisdom of concentrating so much sway over global humanitarian issues under the control of super-wealthy individuals.

“The Gates divorce will do more than upend a family’s life. It will ramify into the worlds of business, education, public health, civil society, philanthropy, and beyond,” Anand Giridharadas, author of the book “Winners Take All” told Reuters.

“That is because our society has made the colossal error of allowing wealth to purchase the chance to make quasi-governmental decisions as a private citizen,” he said.

Gates dropped out of Harvard University to start Microsoft with school chum Paul Allen in 1975. Gates owned 49% of Microsoft at its initial public offering in 1986, which made him an instant multimillionaire. With Microsoft’s explosive growth, he soon became one of the world’s wealthiest individuals.

After an executive tenure in which he helped transform the company into one of the world’s leading technology firms, Gates stepped down as CEO of Microsoft in 2000 to focus on philanthropy. He remained chairman until 2014 and left the company’s board in March 2020.

Known in the technology industry as an acerbic and ruthless competitor, Gates drew the ire of rivals and eventually the U.S. government for Microsoft’s business practices.

The software giant was convicted of antitrust violations in the late 1990s. But the verdict was overturned on appeal, and the company then settled the case out of court.

Gates’ public persona softened into an avuncular elder statesman as he turned his attention to philanthropy, and he has largely steered clear of the many controversies currently roiling the technology business.

Melinda French Gates, who recently added her maiden name on most of her websites and social media, was raised in Dallas and studied computer science and economics at Duke University before joining Microsoft.

In 2015 she founded Pivotal Ventures, an investment company focused on women and families, and in 2019 published a book, “The Moment of Lift”, centered on female empowerment.

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Police arrest scores of pro-Palestinian protesters on US university campuses

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(Last Updated On: April 28, 2024)

Pro-Palestinian protesters were arrested on a handful of U.S. university campuses on Saturday, as activists vowed to keep up the movement seeking a ceasefire in Israel’s war with Hamas among other demands.

The Indiana University police department in Bloomington said in an emailed statement that 23 protesters were arrested there.

Indiana State Police along with Indiana University police told demonstrators they could not pitch tents and camp on campus. When the tents were not removed, police arrested and transported protesters to the Monroe County Justice Center on charges of criminal trespass and resisting arrest.

“The Indiana University Police Department continues to support peaceful protests on campus that follow university policy,” the police statement read.

Pro-Palestinian protests have spread to college campuses across the U.S., stoked by the mass arrest of over 100 people on Columbia University’s campus last week.

In addition to a ceasefire, protesters are demanding that their schools divest from companies involved with Israel’s military and seeking an end to U.S. military assistance for Israel along with amnesty for students and faculty members who have been disciplined or fired for protesting.

School leaders at several universities have responded in the past week by asking police to clear out camps and arrest those who refuse to leave. While saying they defend free speech rights to protest, the leaders say they will not abide activists infringing on campus policies against hate speech or camping out on university grounds.

Massachusetts State Police said in a statement that they helped clear out a protest encampment at Northeastern University in Boston and that 102 protesters who refused to leave were arrested and will be charged with trespassing.

Northeastern University said in a statement on social media that it decided to call in police as “what began as a student demonstration two days ago was infiltrated by professional organizers with no affiliation to Northeastern.”

At Arizona State University, campus police arrested 69 protesters early Saturday, the school said in a statement.

The university said “a group of people – most of whom were not ASU students, faculty or staff – created an encampment and demonstration” and were arrested and charged with criminal trespass after refusing to disperse. – REUTERS

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Hamas says it received Israel’s response to its ceasefire proposal

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(Last Updated On: April 27, 2024)

Hamas said it had received on Saturday Israel’s official response to its latest ceasefire proposal and will study it before submitting its reply, the group’s deputy Gaza chief said in a statement.

“Hamas has received today the official response of the Zionist occupation to the proposal presented to the Egyptian and the Qatari mediators on April 13,” Khalil Al-Hayya, who is currently based in Qatar, said in a statement published by the group.

After more than six months of war with Israel in Gaza, the negotiations remain deadlocked, with Hamas sticking to its demands that any agreement must end the war.

An Egyptian delegation visited Israel for discussion with Israeli officials on Friday, looking for a way to restart talks to end the conflict and return remaining hostages taken when Hamas fighters stormed into Israeli towns on Oct. 7, an official briefed on the meetings said.

The official, who spoke on condition of anonymity, said Israel had no new proposals to make, although it was willing to consider a limited truce in which 33 hostages would be released by Hamas, instead of the 40 previously under discussion.

On Thursday, the United States and 17 other countries appealed to Hamas to release all of its hostages as a pathway to end the crisis.

Hamas has vowed not to relent to international pressure but in a statement it issued on Friday it said it was “open to any ideas or proposals that take into account the needs and rights of our people”.

However, it stuck to its key demands that Israel has rejected, and criticised the joint statement issued by the U.S and others for not calling for a permanent ceasefire and the withdrawal of Israeli forces from Gaza.

White House national security adviser Jake Sullivan said on Friday he saw fresh momentum in talks to end the war and return the remaining hostages.

Citing two Israeli officials, Axios reported that Israel told the Egyptian mediators on Friday that it was ready to give hostage negotiations “one last chance” to reach a deal with Hamas before moving forward with an invasion of Rafah, the last refuge for around a million Palestinians who fled Israeli forces further north in Gaza earlier in the war.

Meanwhile, in Rafah, Palestinian health officials said an Israeli air strike on a house killed at least five people and wounded others.

Hamas fighters stormed into Israeli towns on Oct. 7, killing 1,200 people and capturing 253 hostages. Israel has sworn to annihilate Hamas in an onslaught that has killed more than 34,000 Palestinians.

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In Beijing, Blinken meets Xi and raises US concerns about China’s support for Russia

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(Last Updated On: April 26, 2024)

U.S. Secretary of State Antony Blinken raised concerns on Friday about China’s support for Russia’s military, one of the many issues threatening to sour the recent improvement in relations between the world’s biggest economies.

Blinken raised the matter during five-and-a-half hours of talks with China’s top diplomat Wang Yi in Beijing, the latest high-level contact between the countries that have reduced the acrimony that pushed ties to historic lows last year.

The U.S. diplomat is due to wrap up his visit on Friday with little progress on a raft of contentious issues including U.S. complaints about cheap Chinese exports. Instead, both sides are focusing on pragmatic issues like people-to-people exchanges.

“The Secretary discussed concerns about PRC support to the Russian defense industrial base,” U.S. State Department spokesperson Matthew Miller said, adding the two sides also discussed Taiwan, the South China Sea and other flashpoints.

The PRC is short for China’s official name, the People’s Republic of China.

Despite its “no limits” partnership with Moscow, China has steered clear of providing arms for Russia’s war in Ukraine.

But U.S. officials warn its companies are helping the weapons industry with an unprecedented build up that has helped to turn the tide of the war. For example, bigger machine tool imports from China have helped Russia increase its ballistic missile production, they say.

The U.S. officials say such assistance risks hurting the broader bilateral relationship, even as ties stabilise after being hit by then-House Speaker Nancy Pelosi’s visit to Taiwan in 2022 and the U.S. downing of a suspected Chinese surveillance balloon in February 2023.

China has said it has not provided weaponry to any party, adding that it is “not a producer of or party involved in the Ukraine crisis”. However, it says that normal trade between China and Russia should not be interrupted or restricted.

STEADYING THE SHIP

In addition to his talks with Wang, Blinken met Chinese President Xi Jinping, who reiterated Beijing’s concerns that the United States was suppressing its economic development.

“This is a fundamental issue that must be addressed, just like the first button of a shirt that must be put right, in order for the China-U.S. relationship to truly stabilise, improve and move forward,” Xi said.

Earlier, Wang told Blinken that the “giant ship” of the China-U.S. ties had stabilised, “but negative factors in the relationship are still increasing and building.”

Wang also said the U.S. had taken “endless” measures to suppress China’s economy, trade, science and technology, equating such steps to containment.

“And the relationship is facing all kinds of disruptions. China’s legitimate development rights have been unreasonably suppressed and our core interests are facing challenges,” Wang told Blinken.

The agenda for the talks had been set during the November summit between Biden and Xi in San Francisco and a follow-up call in April.

Underscoring the growing discord between the two sides, hours before Blinken landed in China on Wednesday, U.S. President Joe Biden signed a bipartisan bill that included $8 billion to counter China’s military might, as well as billions in defence aid for Taiwan and $61 billion for Ukraine.

Wang said the U.S. must not step on “red lines” covering sovereignty, security and development interests – an apparent reference to Taiwan, the democratically governed island that China claims as its own, and the disputed South China Sea.

Other issues on the table include artificial intelligence and the U.S. push for progress on the curbing of China’s supply of the chemicals used to make fentanyl.

Blinken, along with senior U.S. officials focused on anti-narcotics collaboration with China, met China’s minister of public security, Wang Xiaohong, to discuss the fentanyl issue.

Ahead of Friday’s talks, U.S. Treasury Secretary Janet Yellen signalled that Biden was not taking any options off the table to respond to China’s excess industrial capacity.

Wang said that the U.S. should stop “hyping up” the “false narrative” of China’s overcapacity.

 

(Reuters)

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