Bill Gates is moving $20 billion of his wealth

into the endowment of the Bill and Melinda Gates Foundation,

which is ramping up its spending in the face of global challenges,

including the pandemic and the war in Ukraine, media reports said.

The foundation, one of the world’s largest philanthropies,

plans to increase its payouts by 50 per cent over pre-pandemic levels,

from nearly $6 billion to $9 billion each year by 2026.

The foundation is primarily focused on charitable giving that’s aimed

at improving global health, gender equality and education, among other issues, CNN reported.

The Microsoft co-founder and his ex-wife, Melinda French Gates,

have both pledged to donate the vast majority of their wealth to the foundation

they established together 20 years ago, as well as to other philanthropic endeavours.

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