Melinda Gates QUITS the Bill and Melinda Gates Foundation… but gets VERY hefty sum under terms of agreement with her ex-husband

Melinda Gates has quit the Bill and Melinda Gates Foundation – but she is receiving a very hefty sum under the terms of agreement with her ex-husband. 

The 59-year-old revealed she would get $12.5 billion as part of the deal with the Microsoft founder.  

Melinda said the move was part of her transition to ‘the next chapter of my philanthropy’ in a statement posted on X.

‘After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,’ the statement reads. 

‘My last day of work at the foundation will be June 7th.’ 

Melinda said she was ‘immensely proud’ of the foundation’s ‘extraordinary work to address inequities around the world’ and she was leaving it with ‘extremely capable CEO Mark Suzman’ and the rest of the leadership team. 

‘The time is right for me to move forward into the next chapter of my philanthropy,’ she added.

‘This is a critical moment for women and girls in the U.S. and around the world, and those fighting to protect and advance equality are in urgent need of support. 

‘Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families. 

‘I’ll be sharing more about what that will look like in the near future.’

It comes after Melinda was spotted without a new eye-catching diamond ring for the first time as she reunited with Bill for the first time in eight months to mark their 27-year-old daughter Jennifer’s med school graduation.    

She was pictured out and about in New York City with her former spouse on Friday in honor of their eldest child’s achievement – with the special occasion bringing the estranged lovers back together for the first time in nearly a year. 

Jennifer – who has matched for residency at Mt. Sinai’s pediatrics program – seemed to appreciate her parents putting tensions aside to focus on her  accomplishment as she grinned from ear-to-ear.

She was seen walking into upscale eatery Marea on Manhattan’s Upper West Side with her younger sister Phoebe, 21. 

The family reunion comes just weeks after Melinda fueled romance rumors when she stepped out donning a blinding diamond ring, which she chose to leave behind for the day in order to keep the shine on her eldest daughter. 

This is a breaking news story with updates to follow.