The Bill & Melinda Gates Foundation will give away $8.3 billion in 2023 and expects to hit $9 billion by 2026, it announced Tuesday.
In an annual letter, CEO Mark Suzman waxed philosophical about the charity’s massive $70 billion endowment.
“This puts us in the privileged position of being able to give away more money than any other philanthropy,” he wrote. “It also raises an important question we hear often: Does our spending, along with the doors that it opens, give us too much power and influence?”
The foundation has expanded its board and listened to members’ requests for transparency, he continued. He said the United Nations’ goals for alleviating poverty, improving public health and other aspirations guide the foundation’s efforts.
“We try to use our tools, our skills, our resources, sometimes our technical skills, sometimes our voice in advocacy to help advance and drive those forward,” Suzman stated.
With News Wire Services