Bill And Melinda Gates Divorce Terms Revealed: They Did Not Sign A Prenup, But A “Separation Contract” To Share Their Networth.
World’s 4th richest man, Bill Gates, and wife Melinda Gates sent shock waves in the philanthropist and billionaires club on Monday last night after announcing that they were splitting up.
It is not yet clear if the couple is set to divorce or temporarily separate.
The two met at Microsoft back in 1994 just after Bill Gates founded the company
They are splitting up after being together for 27 years with 3 children and a 146 billion dollar net worth according to Forbes.
Announcing their separation, the two said they will continue working together on their philanthropic efforts but requested privacy from the public as they worked out their divorce.
While they did not reveal the financial implications of their separation, iHarare has learned through TMZ that Bill Gate had not signed a prenuptial agreement with his wife when they got married back in 1994.
Their divorce fillings shared by TMZ revealed the two have signed a separation agreement instead.
A prenup is a legal agreement signed before marriage and stipulates how the couple wishes to share their property or assets in case of a divorce or if one dies.
The billionaire couple signed a separation agreement which they wish the court to enforce.
This is also a legal document, but private, and is signed during a separation period when the couple has decided to permanently or temporarily live separately.
Because the Gateses decided to enforce this contract, they may soon file for a divorce or repair their marriage.
In legal language, a separation agreement or contract is only enforced for a couple that wishes to live apart – before deciding on a divorce.
The contract stipulates how the couple uses their finances during that period, lists their rights and obligations, and above all states how the couple wishes to handle child support and custody.
This is usually followed by divorce (permanent dissolution of marriage) or reunion of the couple.
Details of the Gateses separation agreement indicate that Melinda is not seeking spousal support.
The couple’s real property, personal property, and debts will be equally split between them.
The document further shows that Melinda Gates (petitioner) is the one who wishes to divorce Bill Gates (respondent).
She states that their marriage is “irretrievably broken” and would want the courts to end their marriage on a specified date which is not stated on TMZ divorce filings seen by iHarare.
The billionaire’s divorce settlement is expected to be one of the largest following Jeff Bezos’s divorces two years ago. Jeff and MacKenzie’s settlement was $38 billion.
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