Bill Gates Donates Additional 26 Trillion Won to Foundation... "Hope to Alleviate Suffering"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Hyun-jung] Bill Gates, co-founder of Microsoft (MS), announced that he will donate an additional $20 billion (approximately 26 trillion KRW) to the Bill & Melinda Gates Foundation, which he established with his ex-wife.

On the 13th (local time), Gates wrote on his social media, "Following the board's support and guidance, we will increase spending from the current annual $6 billion to $9 billion by 2026," adding, "To make this possible, we are sending $20 billion in donations to the foundation this month."

He also added, "I hope that through more donations, we can help alleviate some of the suffering people are currently experiencing and achieve the foundation's vision of providing everyone with the opportunity to live a healthy and productive life." With Gates' announcement of an additional $20 billion donation, the total contributions to the foundation will increase to about $70 billion.

He cited global issues such as the spread of COVID-19, gender equality and women's health, climate change, and the war in Ukraine as the background for this donation. He also mentioned his personal areas of interest, including pandemic prevention, global health, education, food costs, and climate change mitigation efforts.

According to the Bloomberg Billionaires Index (BBI), Gates' net worth is approximately $113.7 billion, while his ex-wife Melinda French Gates, who divorced last year, has a net worth of $10.3 billion. Gates also stated that he plans to transfer all of his assets, except for money spent on himself and his family, to the foundation.

Founded in 2000, the Bill & Melinda Gates Foundation is one of the wealthiest charitable organizations worldwide. Since its establishment, it has employed about 1,800 people and its expenditures have reached $80 billion. Gates stepped down from the day-to-day management of MS in 2008 to devote more time to the foundation's activities.

This content was produced with the assistance of AI translation services.