Microsoft co-founder Bill Gates and Melinda French Gates are now officially divorced, three months after first announcing their separation. The couple got divorced after 27 years of marriage.
According to court records, a judge in King County, Washington, certified the marriage's dissolution, noting that neither party will get "spousal support" or change their names. The judge ordered the Gateses to divide their assets in accordance with the terms of the separation contract, which is kept confidential as part of the divorce settlement.
Bill Gates and Melinda French Gates, who once worked together, were one of the most well-known couples in the world of business. They went on trips together and did joint media interviews.
According to a report by The New York Times, Melinda French Gates had been anxious about her husband's relationship with billionaire investor Jeffrey Epstein, and after media outlets revealed the two men's relationship, she sought a divorce.
More than $3 billion in shares held by Gates' Cascade Investment have been transferred to French Gates' name since the separation was announced in May.
According to the Bloomberg Billionaires Index, that's a portion of their $146 billion fortune at the time of the announcement, however, it's unclear how the ex-couple's private assets would be divided. According to the index, Gates is now worth more than $150 billion.
Meanwhile, Washington is a community property state, which implies that anything obtained during a marriage belongs to both partners equally, a separation contract can exert influence if both parties agree and the court finds it to be reasonable.
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The judge described the property division plan as "just and equitable" in a filing.
The two, on the other hand, have decided to continue working together on philanthropy, the partnership may end with the marriage. The Bill & Melinda Gates Foundation, where the two are co-chairs and trustees, said last month that Melinda French Gates will quit if the two cannot work together after two years.
In addition, the focus stands on the couple's commitment of an additional $15 billion to the organisation. The money will go to the foundation's endowment, which had a value of almost $50 billion before the announcement of the separation and had given away roughly the same amount over the last two decades.
French Gates, who filed for divorce in May, signed the document on July 30 from "Pivotal Ventures," her Washington-based investment and incubation firm dedicated to gender equality.