Bill and Melinda Gates Divorce Settlement: Separation Agreement Details How Assets Will Be Split
The details of Bill and Melinda Gates' divorce have been trickling out ever since the couple [...]
The details of Bill and Melinda Gates' divorce have been trickling out ever since the couple announced their separation on Monday. Court documents show that they did not have a pre-nuptial agreement and that neither is pursuing spousal support. Instead, they have signed a separation contract which details how their assets will be divided.
The Gates family announced the end of their 27-year-long marriage in a public statement on social media on Monday, leading to a flurry of questions. Reporters from PEOPLE obtained their court documents including the Gates' separation contract, which details how their assets and their shared responsibilities will be divided. This is no small task since the couple has been extremely close for many years, and have worked together on some of their biggest projects. The couple had reportedly agreed on the terms of the contract privately before presenting it to the court.
— Bill Gates (@BillGates) May 3, 2021
The separation agreement entitles both parties to full access to all tax, financial, legal and household records from the duration of their marriage. It also states that they will both be responsible for their own financial futures, including new debts or incomes. Melinda also filed an automatic temporary order which sets financial restraints on both of them, meaning they can't sell any property or make changes to insurance policies during the divorce proceedings. Exceptions can be made with a written agreement or court orders.
This is important since the divorce is going to move slowly. They are not scheduled to appear in court until April of 2022. Their Alternative Dispute Resolution date is scheduled for March of 2022. The case will begin being reviewed in September of this year.
Bill Gates is estimated to be the third-richest man in the world, so the couple will be dividing a considerable amount of wealth and assets. He and Melinda have acquired numerous lavish homes over the years, and PEOPLE's report indicates that one of them is currently living in their 66,000-square foot mansion in Medina, Washington. The home is right on the water and its value is estimated at $130.88 million. It is not clear which of them is living in this home, which is nicknamed "Xanadu 2.0."
Meanwhile, they have another home in Del Mar, California with an estimated value of $43 million. They have other properties in Florida and Central America, as well as private planes, luxury cars and more material goods. However, all of that pales in comparison to their business holdings. Bill is known to have considerable equity in Microsoft, Branded Entertainment Network and TerraPower. Melinda's personal wealth has not been publicly disclosed recently.
The former couple said that they would continue to work together for the Bill and Melinda Gates Foundation as needed, and all signs indicate that their split is relatively amicable in spite of the high stakes. They have asked for privacy during this trying time.