Without Melinda, the name “Bill & Melinda Gates Foundation” no longer makes sense, which is why the philanthropic organization will now be known simply as the Gates Foundation.
This announcement comes as the organization, founded by Bill Gates, Melinda French Gates, and Bill Gates Sr., celebrates 25 years of giving. This landmark year also marks another significant achievement: the largest budget year in the foundation’s history, nearing $9 billion.
The 2024 budget represents a 4% increase from its 2023 funding, and a $2 billion rise from the 2021 budget. The nonprofit witnessed Melinda French Gates’ resignation in 2021, but now it sees some positive changes as well. Along with the name change, the foundation will unveil a new logo, with the iconic initials now appearing in yellow against a dark gray background. Since its inception, the Bill & Melinda Gates Foundation has spent $77.6 billion in grants through the end of 2023. The foundation has played a key role in combating infectious diseases like polio, malaria, and HIV/AIDS. It has helped immunize over 122 million children against polio and funded life-saving malaria treatments.
The foundation’s assets were valued at $75.2 billion in 2023. The Gates Foundation focuses its efforts, on global health, poverty alleviation, and education. CEO Mark Suzman shared, “Amid the greatest headwinds to health and development progress we’ve seen in a generation, this funding reflects our commitment to doing our part to reach people who will benefit most from innovations and programs that improve health and expand access to opportunity.”
