Bill Gates donates $20 billion to personal foundation as it works to ramp up spending

Bill Gates, co-founder of Microsoft and Chair of the Gates Foundation, walks to a morning session during the Allen & Company Sun Valley Conference on July 08, 2022 in Sun Valley, Idaho.

The Bill & Melinda Gates Foundation will get $20 billion from Bill Gates this month.

Several huge global setbacks over the past few years have left many people discouraged and wondering if the world is destined to get worse, according to the Microsoft co- founder.

The ongoing Covid-19 epidemic, setbacks in gender equality and women's health, climate change and Russia's war on Ukraine are some of the major issues facing the world.

Gates hopes that by giving more, we can help alleviate 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.

A 50% increase over pre-pandemic levels is what the foundation plans to increase by in the next decade. It said in a release that the donation brought the foundation's endowment to about $70 billion.

The Gates Foundation has served as one of the world's wealthiest philanthropic organizations. In order to devote more time to the nonprofit, Gates stepped down from his day-to-day role at Microsoft.

The Gates' pledged 15 billion dollars to the organization in July.

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