Gates Foundation aims to increase the payout by 50% to help meet urgent global needs
By Mark Suzman
When Bill and Melinda started the foundation in 2000, they envisioned a future where everyone would have a chance to live a healthy and productive life. And for the first two decades of the 21st century, the world was on track to make that vision a reality. Child deaths were cut in half. The global poverty rate fell by three-quarters.
But today, that progress is at risk. The damage caused by COVID-19—while also facing a confluence of economic, climate, and geopolitical crises. Around the world, people have stepped up in their own communities in inspiring ways. But all sectors must do more to ensure that all people, no matter where they live, can achieve their full potential. To accelerate progress toward our collective goals, long-term, sustainable action is needed.
To meet the moment, the Bill & Melinda Gates Foundation is announcing their intent to increase the payout by 50% over pre-pandemic levels, from nearly $6 billion to $9 billion annually by 2026.