Gates Foundation CEO Urges Billionaires to Increase Philanthropy

As wealth concentration intensifies, the foundation plans to spend $8.6 billion in 2024 to combat global inequality.

The CEO of the Bill & Melinda Gates Foundation, Mark Suzman, has called on billionaires to donate more of their wealth to address inequality.
The Gates Foundation plans to spend $8.6 billion in 2024, its largest budget to date, aided by a $20 billion donation by Bill Gates in 2022.
The foundation's appeal builds on the Giving Pledge, launched by the Gateses and Buffett in 2010, which is a commitment for billionaires to donate the majority of their wealth.
The Gates Foundation itself plans to increase its annual budget to $9 billion next year, and then hold at that level.
A report from Oxfam International found that the fortunes of the world's five richest men have doubled since 2020 and that the increasing concentration of wealth could yield the first trillionaire in the next decade.