Bill and Melinda Gates ending 27-year marriage
Bill and Melinda Gates announced their divorce on Twitter. FOX Business’ Maria Bartiromo, Dagen McDowell and Jon Hilsenrath of the Wall Street Journal with more.
Bill and Melinda Gates announced the end of their 27-year marriage in a joint statement on Twitter Monday.
Some details on the split were included in the petition for divorce filed by Melinda in King County Superior Court, according to documents obtained by FOX Business.
Here's an inside look at the Gates vs. Gates filing.
BILL GATES ONCE MADE A PROS-AND-CONS LIST ABOUT MARRIAGE ON A WHITEBOARD
Assets to be divided in separation contract
According to the petition, the Gates family will divide their real estate, personal property and debts and liabilities through a separation contract.
BILL AND MELINDA GATES LARGEST US LANDOWNERS
Among their notable assets, the Gates have a mansion in Washington state that has been estimated to be worth more than $120 million and a private plane. Bill Gates also remains one of the largest individual Microsoft shareholders, holding more than 100 million shares as of December 2019, as reported by The New York Times.
The pair live in Washington, which is a community property state. That means that if a divorcing couple is unable to reach an agreement as to how to divide marital assets, a judge will generally divide community property equally between the two. This applies to assets acquired during the marriage. Property owned by either party prior to the marriage is typically not contested.
The state has a minimum waiting period of 90 days for a divorce case to be finalized.
GATES JOINS OTHER RECENT BILLIONAIRE HIGH-PROFILE DIVORCES
An ‘irretrievably broken’ marriage
The filing describes the Gates marriage as "irretrievably broken."
"We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract," the couple wrote.