It seems Bill and Melinda Gates did not have any pre-nuptial agreement in place before their split. However both have agreed to settle to a separation contract.
Bill and Melinda Gates put a full stop to their marriage after 27 years of being together. Their shared assets may now be at stake.
Their separation was announced in a joint statement on Twitter yesterday by Microsoft co-founder, the philanthropist and former the general manager at Microsoft.
“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” former couple said in their statement. “We no longer believe we can grow together as a couple in this next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life.”
Court documents that Melinda filed on Monday suggests that the pair has a separation agreement in place. The contract includes what each of them is entitled to and their responsibilities. However, the way their assets will be split is still in question.
Although this agreement exists due to the strong bond they had since the start of their relationship, dividing their assets will be one hard task.
The two first ran into each other when Bill was the CEO of Microsoft before getting married in 1994. Their children were daughters Jennifer Katharine, 25, Phoebe Adele, 18 and son Rory John, 21.
The pair started the Bill & Melinda Foundation which will be worth over $40 billion as of now.
Although they will no longer be together, the pair will continue their work at the foundation. Bill and Melinda confirmed this in their joint statement. They also said that they will continue the foundation’s purpose of helping people around the world. The foundation’s primary goal is to help people lead healthy, productive lives.
Over time, the pair even bought several homes together. The most extraordinary property is the 66,000 square foot, waterfront mansion called as “Xanadu 2.0,” according to Business Insider.
Records from King County Public Assessor’s Office indicates the property’s value to be worth $130.88 million in 2020. After the split there’s the chance Bill or Melinda may be living at that home, according to the court docs.
Not long ago, the pair purchased a new home worth $43 million in Del Mar, California, in April 2020. Los Angeles Times reported.
According to Forbes estimation Bill is worth $130.5 billion individually. He is said to be one of the richest people in the world, just below Spacex CEO Elon Musk and Jeff Bezos the CEO and founder of Amazon.
Although in 2014 Bill resigned as Microsoft chairman in 2014, yet he owns 1.34% of the company, according to Forbes. He also has shares in the company, Branded Entertainment Network. Bill is also the chairman of a nuclear reactor design company called TerraPower, according to Investopedia.
It was reported that Bill owns properties in Florida and Central America, as well as numerous luxury planes and cars.
Melinda’s has not yet been revealed to the public.
As per the court documents, Melinda has not asked for spousal support in the divorce. She although requested that the court enforce their separation contract.
The private contract, which the couple agreed to will include dividing their real property, personal property and debts and liabilities among them.
“This marriage is irretrievably broken,” Melinda wrote in the divorce petition. “We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract.”