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Gates’ charitable foundation receives additional $20B from Microsoft founder

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Bill & Melinda Gates Foundation has received an additional $20 billion from Microsoft founder Bill Gates.

Gates announced on Wednesday he was donating an additional $20 billion to The Bill and Melinda Gates Foundation as part of an effort to boost the charitable organization’s spending.

“Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to get worse,” Gates wrote on Twitter.

“The pandemic is one of the biggest setbacks in history. The war on Ukraine is a gigantic tragedy for the entire world. The damage from climate change is already worse than most models predicted. The U.S. has taken a huge step backwards for gender equality and women’s health.”

“But I’m still optimistic. These setbacks are happening in the context of two decades’ worth of historic progress and I believe it is possible to mitigate the damage and get back to the progress the world was making.”

“I am very proud of the foundation’s role in helping solve big problems.”

The foundation now has an endowment of about $70 billion following a $3 billion donation from Warren Buffett.

Gates said he hopes “others in positions of great wealth and privilege will step up in this moment too.”

“I hope by giving more, we can 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 and his former spouse started the philanthropic organization in 2000 and Gates stepped away from Microsoft in 2008 to focus more on the nonprofit.

Despite the couple’s split, they’ve pledged to run the foundation “together forever.”

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