Bill and Melinda Gates Had One of the Most Expensive Divorces Ever -- A $130 Billion Net Worth and No Prenup Meant a Massive Settlement

In May of 2021, the news broke that Bill and Melinda Gates had officially filed for divorce, citing irreconcilable differences. The high-tech power couple embarked on what was anticipated to become the most expensive divorce in history, given their substantial wealth.

Having been together for 27 years, it was evident that both played pivotal roles in each other's various endeavors. Melinda, among other accomplishments, co-founded the Bill and Melinda Gates Foundation, a significant philanthropic organization.

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At the time of filing, Gates had a networth of $130 billion. Experts speculated that the divorce settlement would set a new record for its sheer magnitude. 

The couple had a separation contract in place, though the details of this arrangement remained private, as they requested confidentiality during the process.

Filing for divorce in the state of Washington, known as a community property state, meant that all assets acquired during their marriage would be subject to a 50/50 split since there was no prenup. This legal framework added another layer of complexity to the divorce proceedings.

As part of their divorce settlement, the Gates had to contend with the division of their impressive $124 million art collection, which included:

• Lost on the Grand Banks by Winslow Homer: In 1998, Gates acquired this masterpiece for $36 million, setting an American art record at the time. The oil painting vividly depicted the lives of North American fishermen off the coast of Maine.
• Room of Flowers by Childe Hassam: Gates reportedly purchased Room of Flowers from collector Richard Manoogian. This impressionist gem held a value of $20 million and found its place within the Gates' library. Childe Hassam completed the masterpiece in 1894.
• The Nursery by William Merritt Chase: Another purchase from Richard Manoogian, The Nursery cost Gates approximately $10 million. William Merritt Chase, along with Childe Hassam, was a fellow student who studied art across Europe and America. The Nursery was completed by Chase in 1890.
• Polo Crowd by George Bellows: In 1999, Gates acquired Polo Crowd anonymously at a Sotheby's auction. Valued at a substantial $27.5 million, this painting stood as one of Gates' most expensive art pieces. George Bellows, an American artist renowned for capturing urban life in New York City during the late 19th and early 20th centuries, created the artwork.
• Codex Leicester by Leonardo da Vinci: One of the most intriguing items in Gates' art collection was the scientific journal, Codex Leicester, handwritten and illustrated by Leonardo da Vinci himself. Acquiring the rare artifact cost Gates $30.9 million, and its contents were gathered by da Vinci from 1504 to 1508. In 2018, Gates offered to exhibit the manuscript at the Uffizi Gallery in Florence to commemorate the 500th anniversary of the artist's death.

Billionaires invest in art because they know the long-term potential of art as an asset. Art has long been seen as a safe haven investment, and billionaires are no exception. They know that art can appreciate in value over time, and they also appreciate the cultural and aesthetic value of art.

Bill Gates, Jeff Bezos, and Elon Musk have established themselves as prominent art collectors, amassing remarkable collections featuring masterpieces by renowned artists throughout history. Their involvement in the art world showcases the enduring appeal of art as a wealth-building and personally rewarding pursuit.

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Along with the art collection, there was also plenty of real estate to divide.

Xanadu 2.0 Medina, Washington, Compound

This sprawling estate in Medina, Washington, served as the primary residence for the power couple. The property, valued at more than $131 million, earned the nickname "Xanadu 2.0," a reference to the mansion in the classic film Citizen Kane. Covering an impressive 66,000 square feet, it had a stunning lakeside location on the shores of Lake Washington. Among its opulent amenities were a 60-foot swimming pool and a trampoline room. Architects James Cutler and Peter Bohlin were responsible for its construction, while AD100 designer Thierry Despont handled the interiors after Melinda and Bill tied the knot in 1994.

Although it was their cherished home, Melinda expressed her anticipation of downsizing, sharing with the New York Times in 2019, "We won't have that house forever. I'm actually really looking forward to the day that Bill and I live in a 1,500-square-foot house."

Del Mar, California, Beach House

In April of 2020, the couple acquired an oceanfront mansion near San Diego, California, at a cost of $43 million. Originally built in 1999 by Ken Ronchetti, this property featured a six-bedroom main house, along with two guesthouses, a greenhouse, a pool, a hot tub, and a tennis court. In contrast to their Washington residence, this beach house boasted a modern design with an abundance of glass, stone, light woods, and breathtaking ocean views.

Rancho Santa Fe, California, Equestrian Ranch

Back in 2014, Bill and Melinda invested $18 million in a 228-acre equestrian ranch, also located near San Diego, California. The property came complete with all the necessary facilities for housing horses, including stables, a veterinarian's office, a racetrack, and a guesthouse. Interestingly, this ranch won't likely be part of the divorce proceedings since it was purchased from weight-loss mogul Jenny Craig. In 2018, the couple bought another horse farm in New York's Westchester County, but that property was gifted to their eldest daughter, Jennifer, and thus, won't be subject to division.

Indian Wells, California, Home

This desert retreat, purchased by Bill and Melinda for $12.5 million in 1999, offered a six-bedroom, nine-bathroom oasis spread over 13,000 square feet. Nestled alongside a golf course, it provided a serene and luxurious getaway.

Wellington, Florida, Horse Farm

In addition to Jennifer owning the Evergate stables in Wellington, Florida, Bill acquired an additional farm in the area in 2019, spending $21 million. As of the divorce, it remains uncertain whether this parcel was also gifted to Jennifer or if it will be included in the division of assets between Bill and Melinda.

There were also other major assets in the divorce, including:

• Microsoft stock
• Cascade Investment
• Bill & Melinda Gates Foundation

Details regarding the divorce were never made public, even after it was finalized. Sources reported that Melinda walked away with $76 billion, but it was not confirmed. Two years later, Bill Gates has a net worh of around $104 billion, according to Forbes.