Earlier this month, French Gates announced her departure from the leadership of the Bill and Melinda Gates Foundation to focus on women and families.
With this departure, Melinda received 12 billion dollars (11 billion euros, at the current exchange rate) from Bill Gates, for her philanthropy in the future.
French Gates, one of the biggest philanthropic advocates for gender equality in the US, revealed today in an article in The New York Times that she has been held back over the years by people who say it is not the right time to talk about gender equality.
“Decades of research on economics, well-being and governance make it clear that investing in women and girls benefits everyone,” she argued in the article.
French Gates said that in recent weeks she has begun directing new donations through her organization, Pivotal Ventures, to groups in the US working to protect women’s rights and increase their power and influence.
Teresa Younger, president and CEO of the Ms. Foundation for Women, which received a grant, has long called on donors to provide unrestricted, multi-year funding to organizations, praising French Gates’ new commitment as part of a broader trend of major donors allocate generous amounts to non-profit organizations.
Melinda Gates has also committed to awarding 12 individuals $20 million (€18.3 million) each to distribute to non-profit organizations of her choice by the end of 2026.
In total, she announced $690 million (634 million euros) in commitments out of the $1 billion (910 million euros) pledged, which also includes a ‘call’ for applications that the Lever for Change organization will review this fall.
French Gates further revealed that $250 million (229 million euros) will be awarded through this process to fund organizations working to improve the physical and mental health of women around the world.
Pivotal Ventures is a limited liability company that also manages investments for profitable ventures, so there is little public information about its donations or the assets it manages.
This society has focused on various ways to increase women’s economic and political participation and power, such as closing the pay gap, compensating for the care work often performed by women, and encouraging women to run for political office.
In the article, French Gates addressed the high maternal mortality rates in the U.S., noting that Black and Native American mothers are at the highest risk.
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