Melinda French Gates said Monday she will resign from the charitable foundation she co-founded with her former husband, Microsoft founder Bill Gates. Her last day with the Bill & Melinda Gates Foundation will be June 7, she announced on X.

“This is not a decision I came to lightly. I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world," Gates wrote on X, adding, “The time is right for me to move forward into the next chapter of my philanthropy.”

Founded in 2000, the Bill & Melinda Gates Foundation is believed to be the second largest charitable foundation in the world with $69 billion in assets. According to its most recent annual report, it provided $7 billion in charitable support to global development, global health, gender equality and other charitable programs in 2022.

According to the foundation web site, the Gates “believe that all lives have equal value and they have always been determined to use their resources to create a world where everyone has the opportunity to lead a healthy and productive life.”

Bill and Melinda Gates were married for 27 years. They split up in 2022, after which Melinda Gates told the CBS Mornings TV show “there just came a point in time where there was enough there that I realized it just wasn’t healthy, and I could’t trust what we had.”

Gates is leaving the foundation with $12.5 billion under the terms of her agreement with her former husband.

“This is a critical moment for women and girls in the U.S. and around the world — and those fighting to protect and advance equality are in urgent need of support,” Gates wrote on X.

She said she will share more about how she plans to advance her work with women and failies “in the near future.”