Bill and Melinda Gates recently announced that they will be divorcing after 27 years of marriage. The couple has billions of dollars in assets that will need to be divided in what could become a complicated divorce proceeding. As co-founder and former CEO of Microsoft, Bill Gates has a significant amount of wealth tied up in company shares. The couple also has a charitable foundation, valuable real estate and other assets that will need to be considered in the divorce.
Charitable contributions and asset division
Bill and Melinda Gates created their namesake foundation and have donated billions to the organization since its beginning. Currently, the Bill and Melinda Gates foundation is worth around $51 billion. Dividing assets related to charitable foundations can be complex during a divorce. The couple’s current separation agreement has not been made public, so it is not yet known how the couple will split the assets tied to the foundation.
The pair also own multiple properties around the country. These properties are estimated to be valued at around $166 million total. The couple may agree to split the properties, sell them and split the profits, or commit to another arrangement. Along with the real estate portfolio, other assets include a collection of sports cars and an extensive art collection.
Challenges of high–asset divorces
Agreeing to financial terms during a divorce is rarely an easy feat. But when there are many assets that must be divided, it can be quite difficult to come to a solution that satisfies both parties. Anyone dealing with a high–asset divorce in Connecticut can benefit from speaking with an experienced attorney. They can provide valuable legal advice on how to reach a divorce agreement that best benefits the client.