CNN  —  Melinda French Gates said Monday she would resign as co-chair of the Bill & Melinda Gates Foundation that she has helped lead since 2000. As part of her separation agreement from former husband Bill Gates, French Gates said she will receive an additional $12.5 billion for her charitable work. French Gates said she plans to focus her giving on groups that focus on women and families. “This is not a decision I came to lightly,” she said in a statement posted on X. “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.” French Gates said she plans to leave the Bill & Melinda Gates Foundation on June 7, and she will share more about her future charitable plans in the near future. This is a developing story and will be updated.