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When Bill and Melinda Gates recently announced their philanthropy to the Bill and Melinda Gates Foundation, they didn't just say they'd donate $1 billion to charity over the next three decades.
They said they'd invest that money in so-called "impact investing" projects around the world that would change the world for the better.
The Gateses are among the world's richest families, with a combined wealth of more than $200 billion, and they're not alone in their philanthropic efforts.
A new report from the Giving Pledge finds that more and more wealthy families are investing their money in projects that have a positive impact on the communities in which they live.
One example: The Gateses' philanthropic arm, the Bill and Melinda Gates Foundation, will invest $50 million in three projects in Kenya, Nigeria, and South Africa over the next three years, reports the New York Times.
It's not clear how the money will be spent, but the report says the Gateses plan to work with other philanthropic groups, including the Bill and Melinda Gates Foundation's Global Fund for Good.
The report also notes that more and more family offices are investing in impact investing, though it's not clear whether they're doing so legally, per the Times.
The report
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