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"We have the opportunity to realize the full potential of philanthropy at the moment when the world needs it most," Mark Suzman, CEO of the Gates Foundation, writes in the foundation's annual letter, published Thursday.
He cites a Forbes report that shows the world's 2,640 billionaires have a net worth of at least $12.2 trillion.
But with just $1 billion in additional giving, Suzman writes, philanthropists "could fund a set of high-impact, low-cost interventions that could save the lives of two million additional mothers and babies by 2030."
With $4 billion, they could help half a billion smallholder farmers become more climate resilient and reduce greenhouse gas emissions from agriculture by one gigaton a year by 2030.
With a little more than $7 billion, they could get vaccines to 300 million people, preventing at least seven million deaths, he writes.
"The philanthropic ecosystem looks different than it did when I started doing this work over 15 years ago, and that's a good thing," Suzman adds, per the News Agency of Nigeria.
The Gates Foundation, founded by Bill and Melinda Gates, recently approved a 2024 budget of $8.6 billion, the largest ever for the foundation, which focuses on improving people's health and giving them the chance to
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Foundation: Santa Barbara Foundation
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