With $8.3 billion to give away in 2023, the Gates Foundation is the largest private philanthropic donor.
The foundation announced in October a new education initiative funded by $1.1 billion over four years to try to improve math scores through developing new curricula and digital tools. For Alex Molnar, of the National Education Policy Center, the plan demonstrates the power billionaires like Bill Gates have — experimenting with the education of the poorest children, despite past missteps.
When asked about previous criticism that its education work had ignored issues that arise from poverty and that hurt learning, Suzman said he doesn't see that as philanthropy’s role. He says it should support programs governments or business can't or won't fund.Molnar disagreed, saying that diminishing the number of poor people would mean stopping the wealthiest people from amassing their fortunes in the first place.
New members have already pushed the foundation to be more transparent, Suzman said. The board also recommended the foundation set aside some of the $20 billion that Bill Gates committed to the organization in 2022 for future work and gradually raise its annual budget to $9 billion by 2026.
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