Melinda French Gates says giving away her fortune is the right thing to do for society

Melinda French Gates has doubled down on her decision to give away her fortune after leaving the Bill & Melinda Gates Foundation in June.

The 59-year-old, who is worth a reported $16.8 billion, told Stephen Colbert it's the "right thing to do for society".

During an appearance on The Late Show with Stephen Colbert on July 23, French Gates, who divorced Microsoft founder Bill Gates back in 2021, says she was "absolutely" committed to following through with the plan.

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"If we grew up in the United States, anybody who has grown up in this country has been really lucky and I don't care who you are," she explained.

"To be able to go to a decent school, grow up and pursue your career, and if so you are a billionaire, my gosh, you have benefited from this country, right?

"So we should give back."

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French Gates explained she feels there is "a responsibility and to do it in a way that's incredibly thoughtful".

Since leaving the Bill & Melinda Gates Foundation, she has has announced plans to focus on her organisation Pivotal Ventures, which she founded in 2015.

The organisation's charter is to "advance social progress by removing barriers that hold people back."

French Gates says she is determined to ensure that "women's rights are not only on the agenda, but that women are setting the agenda" – especially after watching women's rights be rolled back internationally over the last few years."

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"What I saw, part of why our women's rights got rolled back in the United States is that those organisations were starved for funding, and they were playing defense," she explained.

To this end, French Gates has pledged to donate $1 billion over the next two years.

In the interview, French Gates also spoke about becoming a grandmother, saying her granddaughter calls her "Nonna", which is Italian for grandmother.

She says her siblings picked the moniker for her.

"I wanted something that sounded youthful ... it sounded more youthful to be Italian," she joked.

She and Bill Gates are grandparents to one-year-old Leila, the daughter of Jennifer Gates and husband Nayel Nassar.

The couple are currently expecting their second child.

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