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

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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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Venezuela-US tensions spike in wake of seized tanker as Nobel winner vows change

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Venezuelan opposition leader Maria Corina Machado on Friday promised political change after slipping out of the country in secret to collect the Nobel Peace Prize, as the shock waves intensified from the Trump administration’s seizure of an oil tanker earlier this week.

That escalation came on the heels of a large-scale U.S. military buildup in the southern Caribbean as President Donald Trump campaigns to oust Venezuelan leader Nicolas Maduro, pushing relations to their most volatile point in years, Reuters reported.

The effects could ripple through the region, with Venezuelan oil exports falling sharply and crisis-stricken Cuba, already straining to power its grid, at risk of losing supply.

The U.S. seizure of the Skipper tanker off Venezuela’s coast on Wednesday marked the first U.S. capture of Venezuelan oil cargo since sanctions were imposed in 2019.

The vessel is now heading to Houston, where it will offload its cargo onto smaller ships, Reuters reported.

The Trump administration does not recognize Maduro, in power since 2013, as Venezuela’s legitimate leader.

Washington has signalled more seizures are planned as part of efforts to choke off sanctioned oil flows, and subsequently imposed new sanctions on three nephews of Maduro’s wife and six tankers linked to them.

The U.S. military presence in the Caribbean has grown as Trump in recent weeks has discussed potential military intervention in Venezuela, based on accusations that the country ships narcotics to the United States. The Venezuelan government has denied the accusations.

So far there have been over 20 U.S. military strikes in the Caribbean and Pacific against suspected drug vessels this year, in which nearly 90 people have been killed, alarming human rights advocates and stirring debate among U.S. lawmakers.

While many Republicans have backed the campaign, Democrats have questioned whether the campaign is illegal and urged more transparency, including the release of a full, unedited video, opens new tab of strikes on a suspected drug-trafficking boat.

MACHADO DEFIES BAN, URGES TRANSITION

Machado defied a decade-long travel ban and a period in hiding to travel to Oslo on Thursday, noting that she would soon bring the Nobel Peace Prize back home to Venezuela.

She said Maduro would leave power “whether there is a negotiated changeover or not,” vowed she is focused on a peaceful transition, and thanked Trump for his “decisive support.”

Machado is aligned with U.S. hardliners who accuse Maduro of ties to criminal networks – claims that U.S. intelligence has reportedly questioned.

When asked at a press conference in Oslo if she believed U.S. intervention was needed in Venezuela, Machado replied, “We are asking the world to help us.”

Venezuela condemned the tanker seizure as “blatant theft” and “international piracy,” saying it would file complaints with international bodies.

At the same time, Venezuelan lawmakers took a step to withdraw the country from the International Criminal Court, which is currently investigating alleged human rights abuses in the South American country.

Adding to the friction, the Venezuelan government announced the suspension of a U.S. migrant repatriation flight on Friday. A U.S. official countered that deportation flights would continue.

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Putin arrives in Ashgabat to hold series of meetings

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Russian President Vladimir Putin has arrived in Turkmenistan’s capital for a two-day visit.

According to TASS, the presidential aircraft of the Rossiya Special Flight Detachment landed near the presidential terminal of Ashgabat International Airport, commonly referred to as the “small bird” for its distinctive design.

During his visit, Putin will attend an international forum titled “Peace and Trust: Unity of Goals for a Sustainable Future” and hold several bilateral meetings.

The Kremlin has confirmed talks with Turkish President Recep Tayyip Erdogan, while the Iranian Embassy has announced that a meeting with President Masoud Pezeshkian is also planned.

The Ashgabat forum will also be attended by Turkmen President Serdar Berdymukhamedov, along with the presidents of Armenia, Iraq, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan, as well as the prime ministers of Azerbaijan, Hungary, Georgia and Pakistan.

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Trump launches gold card program for expedited visas with a $1 million price tag

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President Donald Trump’s administration officially launched his “Trump Gold Card” visa program on Wednesday to provide a pathway, with a steep price, for non-U.S. citizens to get expedited permission to live in the United States.

The website Trumpcard.gov, complete with an “apply now” button, allows interested applicants to pay a $15,000 fee to the Department of Homeland Security for speedy processing, Reuters reported.

After going through a background check or vetting process, applicants must then make a “contribution” — the website also calls it a “gift” — of $1 million to get the visa, similar to a “Green Card,” which allows them to live and work in the United States.

“Basically it’s a Green Card, but much better. Much more powerful, a much stronger path,” Trump told reporters at the White House. “A path is a big deal. Have to be great people.”

Commerce Secretary Howard Lutnick said some 10,000 people have already signed up for the gold card during a pre-registration period and he expected many more to do so. “I would expect over time that we’d sell, you know, thousands of these cards and raise, you know, billions, billions of dollars,” Lutnick told Reuters in a brief interview.

Lutnick said the gold card program would bring people into the United States who would benefit the economy. He compared that to “average” Green Card holders, whom he said earned less money than average Americans and were more likely to be on or have family members on public assistance. He did not provide evidence for that assertion.

Trump’s administration has pursued a broad crackdown on immigration, deporting hundreds of thousands of people who were in the country illegally and also taking measures to discourage legal immigration.

The gold card program is the Trump version of a counter balance to that, designed to make money for the U.S. Treasury in the same way the president, a former New York businessman and reality television host, has said his tariff program has successfully done.

Lutnick noted that there was also a corporate version of the gold card that allowed companies to get expedited visas for employees they wanted to work in the United States, for a $2 million contribution per employee.

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