"After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage," 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 to work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives."

A spokesperson for Melinda Gates' Pivotal Ventures said that Melinda and Bill Gates will remain co-chairs and trustees of the foundation and that no changes to the organization are planned.

Both Bill and Melinda had already made giving away their wealth through philanthropy a shared priority and said Monday they will continue to work together at their foundation.