Microsoft's Bill Gates and his ex-wife Melinda French Gates have donated their largest ever $20 billion to their Bill and Melinda Gates Foundation, they announced on Wednesday. The huge donation brings the foundation's total assets up to $40.3 billion.
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“The great crises of our time require all of us to do more,” Bill Gates declared, hoping that the money might “mitigate some of the suffering people are facing right now and help fulfill the foundation’s vision to give every person the chance to live a healthy and productive life.”
Gates is a ubiquitous media presence, and has been since the start of the Covid-19 pandemic. He's also one of few philanthropists who have poured enormous sums of money into vaccine development. Gates expressed his concern that the next few years could reverse all of the foundation's recent progress.
The billionaire said that he regretted that the economic pandemic, the conflict in Ukraine, and climate change had all happened at once. The unfortunate conditions made him think about donating to humanitarian causes.
“Economic growth rates across the world are reducing and the present interest rates and high inflation” Calling for “all sectors of society – government, the private sector, and the nonprofit sector including philanthropy – to engage on these issues.”
He observed that governments recovering from Covid-19 might not be able to afford needed humanitarian projects. The Gates Foundation will help fill the gap.
Gates has said the world has "a gigantic tragedy" in Ukraine and a "big setback in history" with Covid-19. He expects both events to harm the global economy, but hopefully not for long. The Gates Foundation is working tirelessly to come up with the solutions to some of the most urgent problems in our world. They are tackling issues such as climate change, hunger, child mortality and gender equality.
Bill Gates has been criticized by detractors who argue that his style of giving is self-serving since he’s made more money as philanthropist than he ever did software tycoon. A recent investigation also found that the Gates Foundation had made $250 million worth of tax-deduction "charitable" grants to companies in which it held stocks. Western media has yet to report on this eerie connection between the wide array of major news publishers and the organization that is funding them.