The billionaire, concerned about the “significant suffering” caused by global setbacks including the COVID-19 pandemic, says he will donate $29.6 billion to his foundation to boost its annual spending.
Bill Gates, concerned about the “significant suffering” caused by global setbacks including the COVID-19 pandemic, has announced that he will donate $US20 billion to his foundation so it can increase its annual spending.
Billionaire Bill Gates is donating $US20 billion to his foundation so it can increase its annual spending.The Gates Foundation plans to raise its annual budget by 50 per cent over pre-pandemic levels to about $US9 billion by 2026. The foundation hopes the increased spending will improve education, reduce poverty and reinstate the global progress toward ending preventable disease and achieving gender equality that has been halted in recent years.
“But the great crises of our time require all of us to do more … I hope by giving more, we can mitigate some of the suffering people are facing right now and help fulfil the foundation’s vision to give every person the chance to live a healthy and productive life.”Co-chair Melinda French Gates said the additional spending will help provide a more “fair and inclusive recovery”.
Those resources include donations from philanthropic organisations. Gates Foundation invests heavily in connecting agricultural advancements with the right countries, offering drought-resistant maize seeds or flood-resistant rice to the areas that can use them most, Suzman said.However, philanthropy has its limitations, he added.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bill Gates plans to drop of richest people list as he makes huge donationBill Gates is moving nearly $30 billion of his wealth into the endowment of the Bill and Melinda Gates Foundation, which is ramping up its spending in the face of global challenges including the pandemic and the war in Ukraine.
Read more »
Climate adaptation bill for African countries to dwarf health spendingEleven nations least responsible for global heating must spend up to 22% of GDP on dealing with effects of it
Read more »
AEMO slugs retailers $85m in first bill for NEM suspensionThe Australian Energy Market Operator’s bid to recoup more than $85 million from electricity retailers will strain a sector that is already struggling.
Read more »
Climate adaptation bill for African countries to dwarf health spendingEleven nations least responsible for global heating must spend up to 22% of GDP on dealing with effects of it
Read more »
Andrews slammed as family hit with ambulance bill despite driving themselves to hospitalVictorian Premier Daniel Andrews has been asked to explain a $1900 bill that was sent to a family who rushed their unconscious 15-month-old son to hospital themselves because they could not get an ambulance after six Triple Zero calls.
Read more »