Melinda French Gates responds to Warren Buffett’s will and the debate in philanthropy
Billionaire philanthropist Melinda French Gates is blazing her own trail after leaving the charitable foundation she started with ex-husband Bill Gates.
Her exit raised questions about her approach to giving when it comes to her own organization, Pivotal Ventures, which is focused on advancing gender equality in the U.S. through philanthropy, investing, and advocacy.
In a wide-ranging interview with the New York Times, French Gates explained, among other things, her approach to philanthropy, why she decided to endorse Joe Biden, and her reaction to Warren Buffett’s will, which doesn’t guarantee additional money to the Gates Foundation.
When asked about the debate between data-driven philanthropy versus trust-based philanthropy, French Gates said he falls somewhere in the middle.
She added, “I don’t intend to build up a large organization and I do believe that there are many, many partners on the ground who do incredible work but often don’t get funded. And I feel like this work when done closer to the ground, sometimes can have an even larger lasting impact.”
One thing she doesn’t want to do with her philanthropy is put her name on the side of a building, saying that such gestures aren’t helpful.
French Gates also elaborated on her endorsement for President Joe Biden in June. While her interview with the Times took place before he dropped out of the race last weekend, she has since backed Vice President Kamala Harris.
Despite previously avoiding political endorsements, she said the Supreme Court’s ruling that overturned the constitutional right to abortion was the catalyst.
“After the Dobbs decision, I knew I had to speak out in favor of women’s rights, and if there was a candidate who is against women’s rights and says terrible things about women, there is no way I could vote for that person,” she said.
French Gates described herself as a centrist, pointing out she has voted for both parties in the past and will continue to do so.
Now about that will. After donating more than $39 billion over the span of 15 years, Buffett has warned his support for the foundation may end. In an interview with the Wall Street Journal last month, the Berkshire Hathaway CEO said, “The Gates Foundation has no money coming after my death.”
According to his will, his remaining wealth will go to a charitable trust overseen by his three children, who must decide unanimously how the money will be spent, meaning it’s technically still possible the Gates Foundation could get more of his money.
French Gates told the Times that she wasn’t surprised by Buffett’s decision, adding that she was aware he was making it.
“The other thing that’s really important to say is he has given an enormous sum through the Bill and Melinda Gates Foundation,” she said. “So I think this has just been a good evolution to his thinking on how he wants to do his giving.”
In addition to philanthropy, French Gates also has an interview series on her YouTube channel, which features conversations with famous and successful women, including Billie Jean King, Michelle Obama, and Ava DuVernay.
In a recent episode, she told Oprah Winfrey that she runs every major life decision by her three closest female friends, whom she calls her “truth council.”
“You actually need a friend who will tell you the truth even when you don’t want to hear it,” French Gates added. “I’ll say about my friends, they have a perspective on me, and I have a perspective on them. When you have a longtime friendship, you’ve kind of seen it all with the other person.”
