Gates Donates $3.35B to Charity
Feb. 06, 1999
SEATTLE (AP) _ Microsoft Corp. chairman Bill Gates and his wife, Melinda, have made new donations to charity totaling $3.35 billion.
The donations include $2.23 billion to the William H. Gates Foundation, named after and administered by Gates' father, and $1.115 billion to the Gates Learning Foundation, spokeswoman Rose Berg-Fosnaugh said Friday.
The William H. Gates Foundation provides grants in the areas of world health and population, education, and services in the Seattle area. With the new gift, its assets are now $4.2 billion.
The Gates Learning Foundation, formerly known as the Gates Library Foundation, is dedicated to closing the gap between poorer children and their better-off counterparts in Internet access and computer training. That foundation's endowment is now $1.13 billion.
Fortune magazine reports the gift is believed to be the largest charitable donation ever, although Berg-Fosnaugh would not confirm that.
In early December, Gates and his wife announced a $100 million donation to support immunization programs for children in developing countries.
Gates is the world's richest man, with an estimated worth of at least $60 billion.