In 1994, the foundation was formed as the William H. Gates Foundation with an initial stock gift of US$94 million. In 1999, the foundation was renamed the Bill & Melinda Gates Foundation. After a merger with the Gates Learning Foundation in 2000, Gates gave an additional US$126 million. During the foundation's following years, funding grew to US$2 billion. On June 15, 2006, Gates announced his plans to transition out of a day-to-day role with Microsoft, effective July 31, 2008, to allow him to devote more time to working with the foundation.
Bill and Melinda Gates, along with the musician Bono, were named by Time as Persons of the Year 2005 for their charitable work. In the case of Bill and Melinda Gates, the work referenced was that of this foundation.
In April 2010, Gates was invited to visit and speak at the Massachusetts Institute of Technology where he asked the students to take on the hard problems of the world in their futures and he also explained the nature and philosophy of his philanthropic endeavors.
Read more about this topic: Bill & Melinda Gates Foundation
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Famous quotes containing the word history:
“The history of the past is but one long struggle upward to equality.”
—Elizabeth Cady Stanton (18151902)
“When the coherence of the parts of a stone, or even that composition of parts which renders it extended; when these familiar objects, I say, are so inexplicable, and contain circumstances so repugnant and contradictory; with what assurance can we decide concerning the origin of worlds, or trace their history from eternity to eternity?”
—David Hume (17111776)
“The history of our era is the nauseating and repulsive history of the crucifixion of the procreative body for the glorification of the spirit.”
—D.H. (David Herbert)