Bill Gates has announced that the Gates Foundation will double its spending, committing over $200 billion over the next 20 years, and close permanently by 2045. This decision comes amidst a global funding crisis for health as various nations reduce their aid budgets, including the US's withdrawal from key health funding initiatives. Gates emphasizes his urgency in giving back to society, aiming to tackle pressing global health issues directly through foundation initiatives. This change is also seen as a response to challenges the foundation faced over recent years, including significant personal and operational transitions following Gates' divorce from Melinda French Gates.
"Over the next 20 years, I will give away virtually all my wealth through the Gates Foundation to save and improve lives around the world."
"As nations backslide from funding global health, my foundation will accelerate its spending, committing more than $200 billion in the process."
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