Latest news with #Gates'
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Business Standard
a day ago
- Business
- Business Standard
Bill Gates pledges bulk of $200 billion fortune to Africa over next 20 yrs
Microsoft co-founder Bill Gates announced that the majority of his vast personal fortune, projected to reach $200 billion by 2045, will be dedicated to improving health and education in Africa over the next two decades. Speaking at the African Union headquarters in Addis Ababa on Monday, the 69-year-old philanthropist stressed the continent's potential, emphasising that investment in health and education could unlock long-term prosperity across all African nations. 'By unleashing human potential through health and education, every country in Africa should be on a path to prosperity — and that path is an exciting thing to be part of,' Gates said in his address to more than 12,000 government officials, diplomats, development partners and youth leaders. Last month, the billionaire had committed to giving away 99 per cent of his wealth to the Bill & Melinda Gates Foundation, which plans to cease operations by December 2045. 'The majority of that funding will be spent on helping you address challenges here in Africa,' he said. Gates Foundation's focus on child & maternal health, disease eradication, poverty The foundation will scale up its efforts on the continent, focusing on three key goals over the next 20 years- ending preventable maternal and child deaths, eradicating deadly infectious diseases, and reducing poverty. Gates emphasised that investments in primary healthcare, particularly maternal health and childhood nutrition, yield the most lasting impact. 'Helping the mother be healthy and have great nutrition before and during pregnancy delivers the strongest results,' he noted. Gates encourages use of AI in healthcare Highlighting examples of successful innovation in African healthcare, Gates pointed to Rwanda's use of AI-powered ultrasound tools to detect high-risk pregnancies early, a move he said was saving lives. He called on the continent's youth to explore the use of artificial intelligence in improving healthcare, comparing its potential impact to how mobile technology revolutionised banking in Africa. 'Africa largely skipped traditional banking. Now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that,' Gates said. African leaders welcome Gates' investment Mozambique's former First Lady, Graça Machel, welcomed the announcement, describing the current global situation as a "moment of crisis", and calling Gates' commitment timely and significant. 'We are counting on Mr Gates' steadfast commitment to continue walking this path of transformation alongside us,' she said. Other prominent African figures, including World Trade Organisation Director-General Dr Ngozi Okonjo-Iweala and UN Deputy Secretary-General Amina J Mohammed, echoed calls for deeper collaboration and innovation to overcome the region's health challenges. The Gates Foundation, which has worked in Africa for over two decades, says primary healthcare remains its chief focus. 'Helping the mother be healthy and have great nutrition before and during pregnancy delivers the strongest results,' Gates said. He added that proper nutrition in a child's first four years is crucial to long-term development. Gates also met Ethiopian Prime Minister Abiy Ahmed and visited the Ethiopian Public Health Institute, where he reviewed the country's initiatives, including a programme to fortify salt with iodine and folic acid. He is expected to travel to Nigeria next, where meetings are planned with President Bola Tinubu and other leaders to discuss the country's primary health care reforms. Gates will also take part in the Goalkeepers Nigeria event and meet scientists involved in developing Nigeria's national AI strategy. US aid cuts to Africa The announcement comes after the United States, under President Donald Trump, cut USAID, which has impacted major humanitarian programmes worldwide. The US provided a total of $41 billion in foreign assistance globally in 2024, of which approximately $12.7 billion went in foreign aid to Sub-Saharan Africa. Largest recipients included Ethiopia ($2.2 billion), Egypt ($1.4 billion), Nigeria ($1.15 billion), Somalia ($1.14 billion), and South Sudan ($1.12 billion). The Gates Foundation says it will continue to stand with African countries through financial support and innovation.
AsiaOne
2 days ago
- Health
- AsiaOne
Online claims about Covid-19 autopsy and vaccination laws are false: MOH, Singapore News
The Ministry of Health (MOH) has clarified false claims circulating on social media platforms regarding alleged Covid-19 autopsy findings and vaccination laws in Singapore. In a press release on Tuesday (June 3), MOH said that misinformation from 2021 — involving false claims that Singapore is the first country in the world to perform an autopsy on a Covid-19 body — has resurfaced. The message, initially spread through Whatsapp, also claimed that autopsy results revealed that Covid-19 does not exist as a virus but as a bacterium. MOH said that those claims are false, as previously clarified in 2021. "Singapore has not performed such an autopsy, and it is also not true that Covid-19 is caused by a bacterium," the release said. MOH also addressed new social media posts claiming that Singapore has enacted laws to mandate vaccines and jail unvaccinated individuals following Microsoft co-founder and philanthropist Bill Gates' recent visit to Singapore in May. "Singapore has not passed any laws on vaccinations after Mr Gates' recent visit to Singapore," MOH said, refuting the false claims. MOH reminded members of the public not to spread misinformation, and to visit for the latest information. [[nid:718575]]
Time of India
2 days ago
- Business
- Time of India
'He died rich' won't be on my tombstone: Bill Gates to spend bulk of his $200 billion fortune on health and education in Africa over next 20 years
Microsoft co-founder Bill Gates has pledged to spend the majority of his estimated $200 billion fortune over the next two decades to improve health and education services across Africa. Speaking at the African Union (AU) headquarters in Addis Ababa, the 69-year-old billionaire said, 'By unleashing human potential through health and education, every country in Africa should be on a path to prosperity.' The announcement follows Gates' earlier commitment to give away 99% of his wealth by 2045, at which point his philanthropic organisation, the Bill & Melinda Gates Foundation, plans to wind down operations. 'I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa,' Gates told African leaders and innovators gathered at the AU headquarters. Gates highlighted his foundation's focus on strengthening primary healthcare. 'What we've learned is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Transform Your Child's Confidence with Our Public Speaking Program Planet Spark Book Now Ensuring the child receives good nutrition in their first four years as well makes all the difference,' Gates said, as quoted by BBC. He also called on Africa's young innovators to consider how Artificial Intelligence (AI) can play a role in transforming healthcare delivery across the continent. 'Africa largely skipped traditional banking and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that,' he said. As an example, he pointed to Rwanda's use of AI-enabled ultrasound to detect high-risk pregnancies. Mozambique's former First Lady, Graça Machel, welcomed Gates' pledge, saying it came at a 'moment of crisis.' She added, 'We are counting on Mr Gates' steadfast commitment to continue walking this path of transformation alongside us.' The pledge comes amid reductions in US foreign aid to Africa under former President Donald Trump's 'America First' policy, which included cuts to HIV/AIDS programs. Gates acknowledged the growing need for external support and reiterated his foundation's long-term commitment to the continent. According to the Gates Foundation, its three priorities are: ending preventable deaths of mothers and babies, ensuring the next generation grows up free from deadly infectious diseases, and lifting millions out of poverty. Gates also addressed public scrutiny of his philanthropic efforts. Though he remains one of the world's wealthiest individuals, he wrote in a blog post last month, 'People will say a lot of things about me when I die, but I am determined that 'he died rich' will not be one of them.' Alongside Paul Allen, Gates founded Microsoft in 1975. He stepped down as CEO in 2000 and left the company's board in 2020. He credits his decision to give away his wealth in part to inspiration from fellow philanthropist Warren Buffett. Still, the Gates Foundation has faced criticism over its influence in global health and claims that it uses its charitable status to avoid taxes, allegations that Gates has not directly addressed. Despite this, Gates emphasized the urgency of his mission. 'This is not charity. It's an investment in Africa's future.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
TimesLIVE
2 days ago
- Health
- TimesLIVE
Bill Gates to direct majority of $200bn pledge towards Africa's future
Gates Foundation chair Bill Gates has announced that the majority of his $200bn (R3.57-trillion) spend over the next 20 years will go to Africa with a focus on partnering with governments that prioritise the health and wellbeing of their people In an address to the AU in Addis Ababa, Ethiopia, on Monday, Gates urged African leaders to seize the moment to accelerate progress in health and development through innovation and partnership, despite current headwinds. 'I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa.' Addressing more 12,000 government officials, diplomats, health workers, development partners and youth leaders in person and online, Gates underscored the critical role of African leadership and ingenuity in driving the continent's health and economic future. 'By unleashing human potential through health and education, every country in Africa should be on a path to prosperity — and that path is an exciting thing to be part of.' After his address, Gates joined Dr Paulin Basinga, the foundation's Africa director, in a fireside chat to discuss Africa's development agenda and the investments and partnerships needed to drive future progress. Calls for collaboration and shared responsibility were delivered by prominent African leaders, including Dr Ngozi Okonjo-Iweala, director-general of the World Trade Organisation, and Amina J Mohammed, deputy secretary-general of the UN. Renowned advocate for women and children Graça Machel described the current situation as 'a moment of crisis' and emphasised the importance of enduring partnerships in Africa's development journey. 'Mr Gates' long-standing partnership with Africa reflects a deep understanding of these challenges and a respect for African leadership, ideas and innovation. We are counting on Mr Gates' steadfast commitment to continue walking this path of transformation alongside us,' Machel said. Okonjo-Iweala emphasised that Africa's health progress was a result of strong government leadership, resilient communities and partnerships that delivered results. Gates called for prioritising primary health care, saying investing in primary health care had the greatest impact on health and wellbeing. 'With primary health care, what we've learnt is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results. Ensuring the child receives good nutrition in their first four years as well makes all the difference.' Gates' speech highlighted how countries like Ethiopia, Rwanda, Zimbabwe, Mozambique, Nigeria and Zambia were showing what was possible when bold leadership harnessed innovation. These ranged from expanding front-line health services and using data to cut child mortality, to deploying advanced tools against malaria and HIV and safeguarding primary health care despite fiscal strain. In Ethiopia and Nigeria this week, Gates will see first-hand the state of health and development priorities in the wake of foreign aid cuts, and he will affirm his and the foundation's commitment to supporting Africa's progress in health and development over the next 20 years. While in Ethiopia, Gates met Prime Minister Abiy Ahmed and heard how Ethiopia was sustaining the momentum on critical reforms, expanding essential services and remaining resilient amid shifting global aid dynamics. From Addis Ababa, Gates will travel to Nigeria, where he will meet President Bola Ahmed Tinubu and engage with federal and state leaders to discuss Nigeria's primary healthcare reforms.
Yahoo
22-05-2025
- Business
- Yahoo
Billionaire Bill Gates Has 65% of His Foundation's $45 Billion Portfolio Invested in 3 Outstanding Stocks
Gates' investment strategy is heavily influenced by longtime friend and Gates Foundation trustee Warren Buffett. While Gates made his fortune in tech, most of the stocks held by the trust are surprisingly non-tech. Stock in each of these companies is worth buying and holding at the right price. 10 stocks we like better than Microsoft › Bill Gates is one of the best-known billionaires in the world. He reached an unforeseen level of wealth in the late 1990s as Microsoft (NASDAQ: MSFT) soared to become the most valuable company in the world. Gates' net worth topped $100 billion in 1999, 18 years before anyone else would reach that level. By 2000, Gates stepped down as CEO of the company he founded to focus more on philanthropy and the newly created Bill & Melinda Gates Foundation (a combination of three previous family foundations). Today, the Gates Foundation manages a trust with a publicly traded portfolio valued at $45 billion, as of this writing. While it contains holdings in 25 stocks, including several stocks donated directly from Gates' personal portfolio, nearly two-thirds of that portfolio is held in just three outstanding stocks. It's probably not a huge surprise that the largest holding in the Microsoft founders' foundation's portfolio is the software company itself. Gates seeded the foundation with $5 billion worth of Microsoft stock in 2000, and he's donated even more since then. Most recently, he added $5 billion worth of shares in 2022. That pushed the foundation's total share count to about 39 million. As of the end of the first quarter, the Gates Foundation continued to hold about 28.5 million shares. Those are worth about $13 billion as of this writing. Microsoft has been one of the biggest beneficiaries of growing artificial intelligence (AI) spending. Its early investment in OpenAI put it in a position to make Azure, its cloud computing platform, the top destination for developers looking to build on the models advanced by OpenAI and others. That's spurred a ton of growth in the cloud computing business over the last two years, and there's no sign of slowing down anytime soon. In fact, Microsoft says it remains capacity-constrained on its AI compute, despite spending heavily to meet demand. Azure's fiscal 2025 Q3 revenue climbed 33% year over year, according to Microsoft's most recent quarterly earnings release. Roughly half of that growth was driven by AI services. Microsoft's enterprise software business also benefits from AI, as Microsoft continues to improve its Copilot software. It offers specific AI-powered Copilot assistants for software development, healthcare, cybersecurity, and even gaming. Copilot in Microsoft 365 gives the company another way to sell its subscription software while increasing prices. Meanwhile, its Copilot Studio allows enterprises to develop their own AI agents using Microsoft's foundation. That's spurred renewed growth in its enterprise software sales. Microsoft's forward P/E ratio of 34 is a significant premium to the rest of the market. However, with its leadership in AI on two fronts, plus a massive share repurchase program (and the cash flow to support it), that valuation is well deserved. As such, it could easily remain a top holding for the Gates Foundation for years to come. Gates has been friends with Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett for a long time. Gates served on Berkshire's board of directors from 2004 to 2020, and Buffett served as a trustee for the Gates Foundation from 2006 to 2021. Buffett still makes an annual donation to the foundation in the form of Berkshire Hathaway Class B shares. As of the end of the first quarter, the Gates Foundation held just over 17 million shares, worth roughly $8.7 billion as of this writing. The trustees sold some shares in the first quarter and will likely continue to sell those shares to fund grants and operations. Buffett has given his donation each summer with the stipulation that the foundation must use the entire value, plus 5% of the foundation's assets. Holding onto a good chunk of Berkshire Hathaway shares has worked out well for the foundation, though. The diversified holding company has seen its value soar as its stock portfolio has performed well and its wholly owned operating businesses produce significant profits. Over the last two years, Buffett has strategically sold off many of Berkshire's largest public equity holdings as their valuations grew more and more expensive. The proceeds from the stock sales combined with the regular profits and cash flows from Berkshire's operated businesses has pushed the cash holdings on Berkshire's balance sheet to a whopping $347.7 billion. That's caused some concern among investors. But amid the current uncertainty, it provides a safe haven for many who trust Buffett's and Berkshire's process. Still, the stock is expensive, and Buffett wouldn't argue with that. He's neglected to buy back shares of the stock for the last year. With a price-to-book ratio of around 1.7, it trades well above its historical average. That said, with its massive pile of cash, the company deserves a premium to its book value, as the cash has a lot more potential in the hands of Buffett than most other investors. Waste Management (NYSE: WM) is one of the longest held stocks for the Gates Foundation trust fund. It's emblematic of the kind of boring businesses that make up the vast majority of the portfolio outside of Microsoft. It's recession resistant (people always have trash to take out) and it sports a wide competitive moat. As of the end of March, the trust held just over 32 million shares. Those are worth about $7.5 billion as of this writing. Waste Management's biggest advantage is its dominant landfill position. It's practically impossible for a new entrant to come into the market due to regulatory hurdles, so Waste Management isn't in danger of seeing any of its routes taken by competitors. It's managed to expand through acquisitions, including the recent acquisition of Stericycle, now WM Healthcare Solutions. Management expects to extract $250 million in synergies from the acquisition while expanding the business through cross-sales. For now, the acquisition is weighing slightly on Waste Management's operating margin, which fell 2 percentage points year over year to 27.7%. That's due to just 12.3% margins for the new healthcare unit, and a slight contraction for the legacy business. The margins should return closer to 30% as Waste Management realizes those synergies, grows the business, and continuously increases pricing for its legacy business. Waste Management currently sports an enterprise value of about 15.5 times management's outlook for 2025 earnings before interest, taxes, depreciation, and amortization (EBITDA). At that price, it's fairly valued, especially when compared to its competitors that are priced higher while experiencing shrinking volumes. Before you buy stock in Microsoft, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Microsoft wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Adam Levy has positions in Microsoft. The Motley Fool has positions in and recommends Berkshire Hathaway and Microsoft. The Motley Fool recommends Waste Management and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 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