Bill Gates donates $20 billion to his foundation
Reuters
Published Jul 13, 2022 12:49PM ET
Updated Jul 13, 2022 07:01PM ET
(Reuters) - Microsoft Corp (NASDAQ:MSFT) co-founder Bill Gates is donating $20 billion to the charitable foundation run by him and his ex-wife Melinda French Gates to boost its annual distributions.
The donation will help the Bill & Melinda Gates Foundation - one of the world's largest private charitable foundations - increase its annual payout by 50% to $9 billion by 2026, he said in a post on his personal blog on Wednesday.
"The great crises of our time require all of us to do more," Gates said, referring to the COVID-19 pandemic, the war in Ukraine and climate change, among others.
He added that the compounding effects of crises, which include surging inflation, had increased the need to invest more in the foundation's core focus areas of health, education, gender equality and poverty alleviation.
The donation brings the 22-year-old organization's endowment to about $70 billion, which includes a grant of $3.1 billion from Warren Buffett last month.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.