Bill Gates gives $20 billion to stem ‘significant suffering’

Published July 13, 2022 9:04 AM

By GLENN GAMBOA
AP Business Writer

Bill Gates, concerned about the “significant suffering” caused by global setbacks including the COVID-19 pandemic, announced Wednesday that he will donate $20 billion to his foundation so it can increase its annual spending. The donation, combined with longtime board member Berkshire Hathaway CEO Warren Buffett’s $3.1 billion gift last month, brings The Bill and Melinda Gates Foundation’s endowment to approximately $70 billion, making it one of the largest in the world. The foundation plans to raise its annual budget by 50% over pre-pandemic levels to about $9 billion by 2026.

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