Good morning, Broadsheet readers! Nurses strike in New York City, the Biden administration introduced new income-based student loan repayment rules, and Melinda French Gates advocates for women and girls to the world's wealthiest.
- Giving pledge. Since stepping into the spotlight as a philanthropist on her own terms, Melinda French Gates has made waves. She's doubled down on her support for women. She's spoken about the realities of divorce. And now, she's trying to convince other philanthropists to help.
A new story in the Wall Street Journal describes French Gates' new role as a solo philanthropist. According to the story, French Gates met with a small group of fellow signers of the Giving Pledge, the promise the ultra-wealthy make to give away their fortunes, in November. At that meeting, she argued that fixing the caregiving crisis in the U.S. is one of the most important issues facing women today.
"We have to fix this country's broken caregiving system if we want to see more women unlock real power in their lives," she said.
The anecdote is an example of how women are wielding power behind the scenes as the distribution of wealth around the world changes. Donations to organizations focused on women and girls totaled $7.9 billion in 2019 or just 1.9% of charitable giving in the U.S., the Journal reported.
With an $11 billion fortune, French Gates is listed at No. 172 on the Bloomberg Billionaires' Index. The enormous sum is still smaller than the net worths many Giving Pledge signers have promised—like MacKenzie Scott. So French Gates' true influence may come by not just donating her own money to women and girls, but convincing others to give away theirs.
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
The Broadsheet is Fortune's newsletter for and about the world's most powerful women. Subscribe here.
