On July 14, Microsoft co-founder Bill Gates announced on Wednesday local time that he would donate $20billion to the Bill & Melinda Gates foundation this month to help increase the annual available expenditure of the institution. Gates is currently ranked fourth on the global rich list. He said on Twitter: “several great setbacks in the world in the past few years have frustrated many people and questioned whether the world will eventually get worse.” Gates pointed out that the ongoing COVID-19, setbacks in gender equality and women’s health, climate change and the conflict in Ukraine are some of the major problems facing the world today. Gates said in a statement: “I hope that through more donations, we can alleviate some of the pain people are currently facing and help realize the vision of the foundation, that is, to give everyone a chance to live a healthy and happy life.” The bill and Melinda Gates Foundation said that by 2026, the agency plans to increase its annual expenditure to $9billion, marking a 50% increase over the level before the COVID-19. The foundation said in a press release that Gates’ latest donation made the total donation of the organization reach about $70billion. Since its establishment in 2000, the bill and Melinda Gates Foundation has always been one of the most funded charitable organizations in the world. Gates resigned from his daily job at Microsoft in 2008 in order to spend more time and energy running this non-profit organization. Shortly after announcing their divorce last year, gates and his ex-wife Melinda promised to donate $15billion to the foundation. The foundation said its total donation has reached and exceeded this commitment. According to a plan announced by the Gates foundation last year, gates and Melinda will continue to cooperate as co chairs of the Gates Foundation until at least the middle of 2023. If the two cannot continue to work together at that time, Melinda will resign as co chairman and trustee. “Gates and Melinda are fully committed to the work of the foundation and have proved this in their daily work,” Suzman said this week For example, Melinda recently visited Africa on behalf of the Gates Foundation and issued an announcement on helping eradicate tropical diseases. Previously, a person familiar with the matter said that Melinda “no longer promises to donate most of her wealth to the Gates Foundation, but plans to use it for other charities”. The Gates Foundation established a new board of directors in January, appointed three external trustees and Suzman to join the ranks of CO chairmen, and gates and Melinda joined the board of directors. Suzman said the new board approved the increased dividend. Since leaving the board last year, billionaire investor Warren Buffett has continued to donate $3.1 billion annually to the Gates Foundation. Gates said that this made Buffett’s total donation to the foundation reach $35.7 billion. However, due to the rising share price of Berkshire Hathaway, this value has been close to $45billion. However, the Gates Foundation said it was also important for others to come forward to help meet global challenges. Mark Suzman, CEO of the Gates Foundation, said that this should be seen as “a call to action to mobilize more resources from elsewhere when it is most needed”. Suzman said that COVID-19 has reduced or reversed past progress in child mortality, vaccination, access to HIV antiretroviral and malaria drugs. He cited setbacks in global food safety and American education, which have caused greater losses to students of color and low-income groups. “In all these areas, we believe that this is an important time to strengthen contacts and demonstrate our long-term commitment. But we do not want to see it in any way as a substitute for government or private sector functions, nor will we make decisions on behalf of other philanthropists,” Suzman said.