I would like to partition a 1.5TB external hard drive which is in FAT32 format into 3 partitions of 500GB each.
If you can put files away, I'd suggest you delete any volumes on your drive from Disk Management, create 3 500GB new partitions and copy files back.
Unless you require FAT32 for compatibility purposes, I'd suggest you create your volumes as NTFS (it will ask you when creating partitions). It is more resilient against file errors, and supports file sizes larger than 4GB.
Once volumes have been deleted, follow this procedure (more info here):
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