When billionaires divorce, it often makes the news in Alabama and across the nation. These high-asset divorces are interesting due to the massive fortunes involved and how these fortunes are divided between the spouses, especially in the absence of a prenuptial agreement. Perhaps one of the most followed billionaire divorces is that of Bill Gates and Melinda French Gates.
The Gates’ marriage
Bill and Melinda Gates met in 1987 at Microsoft. They married in 1994. However, after 27 years of marriage, in May 2021 French Gates filed for divorce. The couple states they are no longer able to grow together as a couple as the reason for their split.
The details of the divorce
A judge approved the couple’s divorce on August 2. The couple had a private separation contract in place. Neither Gates nor French Gates will owe spousal support. The other financial details regarding the divorce are not publicly available. As of the time of their divorce, the Gates’ net worth was approximately $152 billion. This means both Gates and French Gates would be worth $76 billion after their split. The couple initially planned to continue jointly running their charity, the Bill and Melinda Gates Foundation. However, now they will instead plan on running the charity together for a two-year trial period to see if they are capable of staying on as co-chairs following their divorce. If not, French Gates will resign.
Learn more about high-asset divorce
The Gates’ divorce highlights the unique issues involved in a high-asset divorce. A high-asset divorce can be a complicated undergoing that most people are not equipped to handle alone. Our firm’s webpage on family law may be of interest to those who want further information on this topic.