Bill Gates to give most of $200 billion fund to Africa

USA: US billionaire Bill Gates on Tuesday announced that the majority of his philanthropic Gates Foundation’s $200 billion (€175 billion) endowment will be spent in Africa over the next two decades. Gates, who on May 8 said he would wind down the foundation by 2045, made the pledge while addressing African leaders in Addis Ababa, Ethiopia. “I …

USA: US billionaire Bill Gates on Tuesday announced that the majority of his philanthropic Gates Foundation’s $200 billion (€175 billion) endowment will be spent in Africa over the next two decades.

Gates, who on May 8 said he would wind down the foundation by 2045, made the pledge while addressing African leaders in Addis Ababa, Ethiopia.

“I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa,” Gates said as he urged leaders to boost health and development through partnership and innovation.

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“By unleashing human potential through health and education, every country in Africa should be on a path to prosperity… and that path is an exciting thing to be part of,” Gates told government officials, diplomats and health workers.