Earlier, on Monday Bill Gates and Melinda Gates have announcedtheir separation. The couple released a statement to make the divorce official.Following their decision, it would be a challenging task for both of them tosplit their wealth after 27 years of marriage. Bill gates is the world’s fourth-richest man with a net worth of $130.5 billion as per the Forbes report. The questionhere arises, how will this be split between the two parties?
In 2000, the couple established a Seattle based Bill and MelindaGates Foundation. Unlike others, it is one of the largest charitable organizationsin the world which focuses on public health, education and climate change. During the coronavirus pandemic, it had grants of about $ 1.75 billion to vaccineinitiative, diagnostics and research. The foundation has spent $5billion on programs in the US and also around the world, excluding managementcosts in 2019.
The couple has three children, a huge mansion with an assessed valueof $130.8 million as per the king county department of assessments on lake Washingtonwhich lies between Seattle and its side suburbs include Redmond where Microsoftheadquarters are located. The financial details after the split are yet to bedisclosed. According to the separation agreement which they have filed in KingCounty Superior Court the duo is seeking division of joint assets.
As per the laws in a few of the US states, there is a particular ‘communityproperty’ law. This law says that most of the property acquired over the courseof a marriage belongs jointly to spouses and is divided equally in a divorce. Therecan also be some exceptions with the equal distributions. Both the parties canalso agree that certain assets are a subject separate entitlement that is theybelong to only one of them. In that case, inheritance falls over the lap.
Now, which party gets what will be revealed in due course oftime. As there seem to intermingled complications in the divorce case thisseparation might not take as long as the Jolie-Pitt case is taking.