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Microsoft founder Bill Gates arrives at the EU Commission headquarters in Brussels.  | Photograph: Francois Lenoir/Reuters
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Bill Gates: The rich must help the poor

January 28, 2009

At Davos, he said, he planned on thanking government and business leaders for increasing their contributions to global health and economic development over the past five years.

But he said he would also urge them to keep up their commitments.

"The success we've had in meeting the needs of the poorest are easily lost," he said. "I want to make sure that people see this is concrete stuff: Lives are affected in a dramatic way."

Even though the Gates Foundation's endowment lost 20% of its value last year, Gates is increasing the amount of giving from $3.3 billion last year to $3.8 billion in 2009.

As of October 1, the endowment's total value stood at $35.1 billion. Most of the endowment comes from the Gates family, but Buffett pledged in 2006 to give 83 per cent of his fortune to the foundation in a series of annual installments. He has already contributed about $5 billion.

Image: Chairman of Berkshire Hathaway Inc. Warren Buffett (R) poses with Bill and Melinda Gates (C) after a news conference in New York. | Photograph: Shannon Stapleton/Reuters

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