According to a recent WSJ report, Microsoft founder Bill Gates is giving another $20 billion to the Bill & Melinda Gates Foundation (www.gatesfoundation.org). Although it is named the Bill & Melinda Gates Foundation, basically half of its resources to date have come from gifts from Warren Buffett.
Bill Gates’s latest donation would increase the Gates Foundation’s endowment to roughly $50 billion. The Gates Foundation said Wednesday it would increase its payout by 50% over pre-pandemic levels, to about $9 billion annually by 2026 compared with about $6 billion pre-Covid 19.
“As I look to the future, my plan is to give all my wealth to the foundation other than what I spend on myself and my family,” Bill Gates wrote in a blog post on GatesNotes. He also detailed the billions his friend Warren Buffett gave to the Gates Foundation. Basically, half of our foundation’s resources to date have come from Warren Buffett’s gifts. Since 2006, he has gifted the foundation $35.7 billion, including his most recent gift of $3.1 billion in June.
