Connect with us

Melinda Gates Not Asking For Spousal Support In $130 Billion Divorce From Bill Gates

(FILES) In this file photo taken on July 11, 2015 Billionaire Bill Gates, chairman and founder of Microsoft Corp., and his wife Melinda attend the Allen & Company Sun Valley Conference in Sun Valley, Idaho. – Bill Gates, the Microsoft founder-turned philanthropist, and his wife Melinda are divorcing after a 27-year-marriage, the couple said in a joint statement Monday. The announcement from one of the world’s wealthiest couples, with an estimated net worth of some $130 billion, was made on Twitter. (Photo by SCOTT OLSON / GETTY IMAGES NORTH AMERICA / AFP)

Updates

Melinda Gates Not Asking For Spousal Support In $130 Billion Divorce From Bill Gates

GET TOP STORIES VIA INBOX

Bill and Melinda Gates’ divorce papers were revealed only one day after the power pair declared their surprising separation. Melinda submitted the paperwork on May 3 in Washington county, disclosing that the pair never had a prenuptial or postnuptial arrangement during their 27 years of marriage. Melinda, 56, has decided not to pursue spousal support from her soon-to-be ex-husband.

Furthermore, Bill and Melinda’s marriage is defined as “irretrievably broken,” in the same text, with Melinda adding, “We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract.” In terms of the divorce case, the ex-couple will testify in court in April 2022 after completing their Alternative Dispute Resolution process a month prior. Their case will be reviewed in September of this year.

Bill and Melinda Gates, 65 and 56, declared their divorce in a joint statement on Monday. The couple, who married in Hawaii on New Year’s Day in 1994, said they don’t “believe we can grow together as a couple in this next phase of our lives.”

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” they said in the release. “Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.”

According to documents seen by HollywoodLife, Bill and Melinda have a separation contract. Melinda references the contract many times in her filing, but the contract’s specifics remain unknown. She cites a “irretrievably broken” marriage as the reason for divorce. The couple’s three offspring are now adults, hence no parenting or child care issues.

Melinda has also filed an automatic provisional restraining order limiting her  and Bill’s right to dispose of property or alter insurance plans, with the exception of what was decided in writing or as directed by the judge. Bill and Melinda will be liable for their own debts in the future, with the possibility of what was settled upon in writing. Furthermore, both the ex-couple and their respective attorneys will have access to all tax, financial, legal, and household information.

Trending:

Jennifer, the couple’s eldest daughter, who is 25 years old, posted about her parents’ divorce in an Instagram story soon after it became official.

“I’m still learning how to best support my own process and emotions as well as my family members at this time and am grateful for the space to do so,” she wrote.

“I won’t personally comment further on anything around the separation, but please know that your kind words and support mean the world to me.”

Melinda’s refusal to seek spousal benefits was not surprising, according to a top Seattle divorce lawyer who spoke to HollywoodLife recently. Brent Bohan said, “The main basis for a request for spousal support is one party’s need versus the other party’s ability to pay.” “I mean, clearly he has an ability to pay and nobody’s gonna argue. But, the problem becomes what’s her need. She walks away with billions and billions of dollars. There’s no need for him to continue to pay her money.”

The Bill and Melinda Gates Foundation was established by the pair in 2000 as a private philanthropic organisation that supports research and advocacy work around the world, including in some of the world’s poorest countries.

The foundation has contributed billions to causes such as global health, development, and education, as well as climate change and the Covid-19 pandemic.

The 65-year-old Microsoft Founder is estimated to be worth $124 billion, and many are speculating about how the pair, who have a total net worth of $130 billion, will divide their assets.

Since there is no prenup, it is unclear how much of the Gates’ $130 billion fortune she would get in the divorce. Although Washington is a community property state, that doesn’t mean the assets will be divided equally, according to Bohan. “Generally, it’s really difficult in these types of cases where you’re dealing with billions of dollars to determine what’s fair because everybody’s gonna walk away with more money than they could spend in 100 lifetimes.”

Bill Gates, who acted as Microsoft CEO until 2000, stepped down from the company’s board of directors last year and has subsequently devoted his time to philanthropy.

Popular Posts:

MUST READ:

GET TOP STORIES VIA INBOX

Continue Reading
Advertisement
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

New Stories

Trending now

Popular Articles

Most Popular:

Advertisement
To Top
yes