Melinda French Gates is exiting the Bill and Melinda Gates Foundation, which will be renamed the Gates Foundation.

After her departure, Melinda will focus on her own philanthropy with a $12.5 billion endowment aimed at supporting women and families.

The foundation, throughout its history, has made grant payments totaling $77.6 billion and remains a major backer of the World Health Organization.

Despite Melinda's exit, she and Bill Gates will continue collaborative philanthropic efforts for at least two more years, as per their post-divorce agreement.

The Gates Foundation, which has played a significant role in global health and development, including a $250 million investment in COVID-19 vaccine development, will maintain its current leadership structure.