Bill Gates and Melinda Agree to a ‘Separation Contract’ before Divorce
Windowofworld.com – Bill Gates and Melinda Gates agreed how to divide their property and assets before announcing their divorce on Monday (3/5).
The billionaire couple, who have been married for 27 years, reportedly signed a separation contract that outlines how their property will be divided.
But they did not sign a prenuptial agreement prior to their 1994 marriage.
The couple runs the Bill & Melinda Gates Foundation which has spent billions of dollars on charities around the world.
They have promised to continue working together at the foundation after their divorce proceedings are complete.
Bill Gates, 65, is the fourth richest person in the world, according to Forbes, and is worth $ 124 billion.
He made his money through the company he co-founded in the 1970s, Microsoft, which was the largest software company in the world.
The couple’s properties are believed to include multi-million dollar properties in Washington, Florida and Wyoming.
Their main residence is a mansion by a lake in Medina, Washington which is reportedly worth an estimated $ 127 million.
The couple filed for divorce in a court in Seattle on Monday, according to documents obtained by US media outlets and published on the TMZ website.
“This marriage is beyond repair. We are asking the court to dissolve our marriage,” the petition for the divorce said.
It said the couple’s property, business interests and assets should be shared “as defined in our separation contract.” The contract has not been made public.
“The couple has three adult children and partner support is not required,” the document said.
They each hired three lawyers to represent them. Lawyers for Melinda, 56, include Robert Cohen who previously worked for clients such as Ivana Trump, Michael Bloomberg and Chris Rock.
Bill Gates has hired three lawyers based in Los Angeles.
The couple announced their divorce in a joint statement posted on Twitter on Monday, saying, “We no longer believe we can grow together as a couple.”
“After a lot of thought and a lot of effort into our relationship, we have made the decision to end our marriage,” they said.