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Bill Gates gives foundation $20 billion to fight ‘huge global setbacks’

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July 14, 2022 at 2:46 a.m. EDT
Bill Gates announced July 13 that he will donate $20 billion to his foundation so it can increase its annual spending on preventing future pandemics, reducing child deaths and curbing climate change, among other causes. (Markus Schreiber/AP)
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Microsoft co-founder Bill Gates pledged to transfer an additional $20 billion of his personal wealth to his philanthropic foundation, in an effort to support causes such as reducing child deaths, managing climate change and preventing future pandemics.

The funds mean the Bill and Melinda Gates Foundation, named after the billionaire and his ex-wife, will disburse $9 billion annually by 2026, up from about $6 billion today.