Bill Gates donates $20 billion to his foundation

Reuters Videos
Updated
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STORY: Microsoft co-founder Bill Gates is donating $20 billion to the Bill & Melinda Gates Foundation

He says the donation will help boost his charity’s annual payouts by 50% to $9 billion by 2026

Tweet from Bill Gates:

"I have an obligation to return my resources to society in ways that have the greatest impact for reducing suffering and improving lives. And I hope others in positions of great wealth and privilege will step up in this moment too."

Compounding crises increased the need to invest in the foundation’s core focus areas, he said

Those areas are health, education, gender equality and poverty alleviation

The charity is one of the world’s largest private charitable foundations

This donation brings the 22-year-old organization’s endowment to about $70 billion