Good Guy Gates has just done something else awesome, injecting a sizable amount of money into the struggling Global Fund To Fight AIDS, Tuberculosis, and Malaria.
Today, at the World Economic Forum in Davos, Switzerland, Gates announced a contribution of $750 million to the fund. Gates issued a legally binding promissory note that covers his future contributions up until 2016. The Global Fun explains it further:
The Global Fund must have enough cash in the bank to cover all signed grants, regardless of the pay-out date. A promissory note also counts as cash in the bank, immediately increasing the amount of funds available for grants.
If the Foundation had renewed its $500 million 2006-2011 cash commitment, $100 million per year for five years would have been made available to the Global Fund. With a promissory note, $750 million is available immediately for the Global Fund to continue its lifesaving programs.
The Gates Foundation had previously put $650 million into the fund.
“These are tough economic times, but that is no excuse for cutting aid to the world’s poorest. The Global Fund is one of the most effective ways we invest our money every year,” said Gates.
Bill Gates, working with his wife through the Gates Foundation, is one of the most charitable people in the world, having given nearly half his net worth to charity. As of 2007, Bill and Melinda Gates have given $28 billion to charity. In fact, check out this infographic to learn more about why Bill Gates is better than Batman.
Gates was quoted last year as saying:
I can understand wanting to have millions of dollars, there’s a certain freedom, meaningful freedom, that comes with that. But once you get much beyond that, I have to tell you, it’s the same hamburger. Dick’s (a fast food chain) has not raised their prices enough.
But being ambitious is good. You just have to pick what you enjoy doing.
Bill Gates continues to give a lot of his hamburger away, and organizations like the Global Fund couldn’t be more thrilled.
This donation comes during the 10th anniversary celebration of the Fund itself. They’ve put out this short video, highlighting the past decade:[Lead Image Courtesy some Good Guy Gates meme I saw on reddit awhile back and have probably mangled]