Bill Gates has announced he has donated $20 billion to the foundation set up by himself, his ex-wife - Melinda French Gates - and Warren Buffett. Gates made the announcement in a blog on Gate Notes, detailing the Foundation’s intent to increase its annual payout by 50 percent over pre-pandemic levels to $9 billion annually by 2026.
He writes of the impact of the Pandemic; the war in Ukraine as “a gigantic tragedy for the entire world”; climate change and “deep political polarisation” as impetus for the increase in donations. And adds his hopes for positive change, despite the enormity of these issues. “We need all sectors of society—government, the private sector, and the non-profit sector including philanthropy—to engage on these issues. Philanthropy is the smallest of these sectors, but it is unique in its ability to try risky ideas that can have a large impact if they succeed and are scaled up,” Gates writes.
Gates also lists areas that the Foundation will focus upon including food security; gender equality; reducing childhood deaths; and eradicating diseases. “Thanks to the unparalleled generosity of Bill, Melinda, and Warren, the foundation is in a strong position to help respond to critical headwinds in health and development now and into the future,” said foundation CEO Mark Suzman following the news. “Their gifts and the intention of the board to spend that money on today’s challenges will allow us to extend our transformational program strategies, partnerships and impact.”
