Bill Gates is definitely my role model. After making billions out of his company, the co-founder of Microsoft is determined to reach out to those in need. Gates announced that he will donated $750 million to the already troubled AIDS fund in order to save the lives of those who are less fortunate, Reuters reports.
Bill Gates took part at the annual meeting of the World Economic Forum which was held in Davos on Thursday. The multi-millionaire took this opportunity to announce his most recent philanthropic intention: that of pledging $750 million in support of the AIDS fund. During his speech, he told people who were present at the event that the current economic recession shouldn’t be used as an excuse to cut aid to world’s poorest.
Michel Kazatchkine, the director of Global Fund to Fight AIDS, Tuberculosis and Malaria quit his job two days ago because he was criticized for misusing funds. The organization is responsible for the planning of nearly a quarter of the international budget allocated to fight HIV and AIDS. The institution is also involved in various international campaigns which raise funds against TB and malaria.
Given the recent tough economic times, the organization was forced to resume its activity. Spokespersons declared last year that there will be no grants or funding until 2014. Bill gates could not remain indifferent to this news; therefore, he announced that the Bill & Melinda Gates Foundation will help them by giving $750 million through a promissory note.
This is not the first donation that Bill Gates makes to the international fund. Up until now he has contributed with $650 million. The sum of money was gradually donated since the launching of the fund 10 years ago.
The Bill & Melinda Gates Foundation was founded in 1994 to serve the philanthropic interests of its founders. The foundation aims to enhance healthcare and reduce extreme poverty on a global scale. In America, the organization has contributed to expand educational opportunities and to give access to information technology to as many people as possible.