World
Bill and Melinda Gates to divorce, but charitable foundation to remain intact
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.
World
US hits Daesh in Syria with large retaliatory strikes, officials say
The U.S. military launched large-scale strikes against dozens of Daesh targets in Syria on Friday in retaliation for an attack on American personnel, U.S. officials said.
A U.S.-led coalition has been carrying out airstrikes and ground operations in Syria targeting Islamic State suspects in recent months, often with the involvement of Syria’s security forces, Reuters reported.
President Donald Trump had vowed to retaliate after a suspected ISIS attack killed U.S. personnel last weekend in Syria.
Defense Secretary Pete Hegseth said the strikes targeted “ISIS fighters, infrastructure, and weapons sites” and that the operation was “OPERATION HAWKEYE STRIKE.”
“This is not the beginning of a war — it is a declaration of vengeance,” Hegseth said. “Today, we hunted and we killed our enemies. Lots of them. And we will continue,” he added.
Trump said on social media that the Syrian government fully supported the strikes and that the U.S. was inflicting “very serious retaliation.”
U.S. Central Command said the strikes hit more than 70 targets across central Syria, adding that Jordanian fighter jets supported the operation.
One U.S. official said the strikes were carried out by U.S. F-15 and A-10 jets, along with Apache helicopters and HIMARS rocket systems.
Syria reiterated its steadfast commitment to fighting Daesh and ensuring that it has “no safe havens on Syrian territory,” according to a statement by the foreign ministry.
Two U.S. Army soldiers and a civilian interpreter were killed on Saturday in the central Syrian town of Palmyra by an attacker who targeted a convoy of American and Syrian forces before being shot dead, according to the U.S. military. Three other U.S. soldiers were also wounded in the attack.
About 1,000 U.S. troops remain in Syria.
The Syrian Interior Ministry has described the attacker as a member of the Syrian security forces suspected of sympathizing with Daesh.
Syria’s government is led by former rebels who toppled leader Bashar al-Assad last year after a 13-year civil war, and includes members of Syria’s former Al Qaeda branch who broke with the group and clashed with Daesh.
Syria has been cooperating with a U.S.-led coalition against Daesh, reaching an agreement last month when President Ahmed al-Sharaa visited the White House.
World
EU leaders agree joint borrowing to fund Ukraine, setting aside plan to use Russian frozen assets
European Union leaders decided on Friday to borrow cash to fund Ukraine’s defence against Russia for the next two years rather than use frozen Russian assets, sidestepping divisions over an unprecedented plan to finance Kyiv with Russian sovereign cash.
“Today we approved a decision to provide 90 billion euros to Ukraine,” EU summit chairman Antonio Costa told a news conference early on Friday morning after hours of talks among the leaders in Brussels, Reuters reported. “As a matter of urgency, we will provide a loan backed by the European Union budget.”
The leaders also gave the European Commission a mandate to keep working on a so-called reparations loan based on Russian immobilised assets but that option proved unworkable for now, above all due to resistance from Belgium, where the bulk of the assets is held.
The idea of EU borrowing initially seemed unworkable as it requires unanimity and Hungary’s Russia-friendly Prime Minister Viktor Orban had opposed it. But Hungary, Slovakia and the Czech Republic agreed to let the scheme go ahead as long as it did not impact them financially.
The EU leaders said Russian assets, totalling 210 billion euros in the EU, will remain frozen until Moscow pays war reparations to Ukraine. If Moscow ever takes such a step, Ukraine could then use they money to pay back the loan.
USE OF RUSSIAN ASSETS TO COMPLEX AT THIS STAGE
“This is good news for Ukraine and bad news for Russia and this was our intention,” German Chancellor Friedrich Merz said.
The stakes for finding money for Kyiv were high because without the EU’s financial help, Ukraine would run out of money in the second quarter of next year and most likely lose the war to Russia, which the EU fears would bring closer the threat of Russian aggression against the bloc.
The decision follows hours of discussions among leaders on the technical details of an unprecedented loan based on the frozen Russian assets, which turned out to be too complex or politically demanding to resolve at this stage.
The main difficulty was providing Belgium, where 185 billion euros of the total Russian assets in Europe are held, with sufficient guarantees against financial and legal risks from potential Russian retaliation for the release of the money to Ukraine.
“There were so many questions on the Reparations Loan, we had to go to Plan B. Rationality has prevailed,” Belgian Prime Minister Bart De Wever told a news conference. “The EU has avoided chaos and division and remained united,” he said.
HUNGARY SCORES A WIN
With public finances across the EU already strained by high debt levels, the European Commission had proposed using the Russian assets for a loan to Kyiv or joint borrowing against the EU budget.
Using the latter option allowed Orban to claim a diplomatic victory.
“Orban got what he wanted: no reparation loan. And EU action without participation of Hungary, Czech Republic and Slovakia,” one EU diplomat said.
‘CAN’T AFFORD TO FAIL’
Several EU leaders arriving at the summit said it was imperative they find a solution to keep Ukraine financed and fighting for the next two years. They were also keen to show European countries’ strength and resolve after U.S. President Donald Trump last week called them “weak”.
“We just can’t afford to fail,” EU foreign policy chief Kaja Kallas said.
Ukrainian President Volodymyr Zelenskiy, who took part in the summit, urged the bloc to agree to use the Russian assets to provide the funds he said would allow Ukraine to keep fighting.
“The decision now on the table – the decision to fully use Russian assets to defend against Russian aggression – is one of the clearest and most morally justified decisions that could ever be made,” he said.
World
US readies new Russia sanctions if Putin rejects peace deal, Bloomberg News reports
A State Department spokesperson told Reuters it does not preview sanctions.
The United States is preparing a further round of sanctions targeting Russia’s energy sector to increase pressure on Moscow should it reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter.
A White House official told Reuters that U.S. President Donald Trump had made no new decisions regarding Russian sanctions.
“It is the role of agencies to prepare options for the president to execute,” the official said.
Bloomberg had reported the U.S. was considering options including targeting vessels in what is known as Russia’s shadow fleet of tankers used to transport exported oil, as well as traders who facilitate such transactions.
The new measures could be announced as early as this week, the report said, adding that Treasury Secretary Scott Bessent discussed the move with a group of European ambassadors this week.
“It is explicitly false to conclude any decisions have been made regarding future sanctions against Russia. As we have said for months, all options remain on the table in support of President Trump’s tireless efforts to stop the senseless killing, and to achieving a lasting, durable peace,” a U.S. Treasury Department spokesperson said.
A State Department spokesperson told Reuters it does not preview sanctions.
Asked about the Bloomberg article, the Kremlin said it had not seen the report but that any sanctions harm efforts to mend U.S.-Russia relations.
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