The ex-couple announced their decision in a statement jointly signed by both of them on Monday.
According to the statement posted on the verified Twitter handle of the Microsoft Billionaire,
he pair explained that they decided to settle for the option of a divorce after “a great deal of thoughts and a lot of work” on their relationship.
While they have decided to end their 27-year-old union, Bill and Melinda said they would continue to work together at the Bill and Melinda Gates Foundation.
The statement reads: “Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.”
“We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives.
“We ask for space and privacy for our family as we begin to navigate this new life,” [ends]
Bill Gates met Melinda in the 1980s when Melinda joined Bill’s Microsoft firm and they both got married in Hawaii in 1994.
They have given to three children – Rory John Gates, Jennifer Katharine Gates and Phoebe Adele Gates.
According to Forbes, Bill Gates is the fourth richest person in the world with a net worth of $124 billion.
He made his money through the firm he co-founded in the 1970s, Microsoft, the world’s biggest software company.
In 2000, the pair founded the Bill and Melinda Gates Foundation which has since spent about $53.8 billion on a wide range of programmes related to global health and poverty alleviation among other initiatives.