Gateses Merge Two Foundations,
Add $6 Billion
The Gates Learning Foundation, which was created in early February to reflect the broadened vision of the Gates Library Foundation, was consolidated with the William H. Gates Foundation August 22 into the Bill and Melinda Gates Foundation. Richard Akeroyd, executive director of the Gates Library Initiative, told American Libraries that “it’s too soon to say” how the merger will affect the Gates Library Initiative, which has made grants to more than 1,300 underserved public libraries in 28 states.
An additional infusion of $6 billion by the Gateses makes the new foundation the wealthiest philanthropy in the United States, with foundation assets now totaling $17.1 billion. The August 23 Chronicle of Higher Education said that Gates decided on the consolidation because the two foundations had closely aligned focuses of learning and global health.
Patty Stonesifer, cochairwoman of the new foundation, told the Chronicle that higher education will have an increasing priority and that new grants for higher education will be announced this fall.
Posted August 30, 1999.
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