Melinda French Gates is stepping down as co-chair of the $75 billion foundation she helped run with her former husband, Bill Gates. Her last day will be June 7 and she’ll receive an additional $12.5 billion to use for her own charitable purposes as part of an agreement with her ex-husband, French Gates said Monday in a statement. [time-brightcove not-tgx=”true”] “I am taking this step with full confidence the foundation is in strong shape,” French Gates, 59, said in the statement. “The time is right for me to move forward into the next chapter of my philanthropy,” which she added will focus on women and families. The Bill and Melinda Gates Foundation — to be known as the G
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